BYND - Signs of +(ve) Trend Reversal An update on BYND, a stock ive been watching. I have put out some ideas on it potentially bottoming out and this idea is an update on my previous thoughts.
This analysis is on the 3D chart
ALSO NOTE: Current 3D candle will close AUGUST 1st.
I've split my thoughts into Bullish/Bearish sections, Lets start with the GOOD NEWS first!
BULLISH THOUGHTS
Currently we have 5 candles above the MAJOR resistance line that formed June 2021. If you look at my previous charts, you'd notice that interacting with it, drove BYND down to its current prices.
THIS IS A VERY BIG ACHIEVEMENT in my opinion. Currently, indicating to me that we have attempted a trend change and have SUCCEEDED.
Which would also point to the idea that we have most likely BOTTOMED out.
HOWEVER, it is VITAL that we stay above this line and have it act as SUPPORT. There is a possibility of price moving down to touch the BLACK line, if it does we need to see how it reacts.
NOTICE also the BLUE Moving average, this is the 42 EMA which has converged exactly where the RESISTANCE turned SUPPORT line is, adding another layer of SUPPORT. This is good to see as well, with the current 3D candle forming a LOWER WICK. This shows buying pressure or power.
Notice also the GREEN Horizontal line, adding a 3rd layer of SUPPORT.
Lets now look at the RSI -> Notice how we've broken above the upper BLACK horizontal line and testing it as SUPPORT. It is crucial that it acts as SUPPORT and we stay above it. If so, BULLISH CONVERGENCE is at play, which could help us break through the RED RECTANGLE ZONE.
STOCH RSI -> Notice the curving occuring, indicated by green line. It would be great to see it curve and move back up above the 80 level. This would indicate bullish momentum coming back in. We don't want it to continue down.
MACD -> Notice how the size of the RED histograms have shrunk. This shows waning BEAR momentum. I would like to see more green bars print, bigger in size. Also notice the BLUE/ORANGE lines are now above the 0 level. This is a bullish sign, i would like to see it continue up and have more of a slope up as well.
BEARISH THOUGHTS
Notice the RED RECTANGLE ZONE and upper BLACK RESISTANCE line. We have been REJECTED from the RED ZONE and the BLACK line has helped to push us down.
We are also within a DESCENDING TRIANGLE, indicated by green horizontal line and BLACK RESISTANCE TREND LINE. These normally break to the downside. It could push our price below the MAJOR RESISTANCE LINE, taking us all the way down to the LOWEST BLACK LINE.
RSi is testing very important SUPPORT. We need to absolutely stay above for the BULLISH DIVERGENCE to play out.
STOCH RSI has crossed below the 80 level, which indicates bearish momentum. This could give the DESCENDING triangle "juice" to play out. Again, its crucial STOCH curves back up.
MACD, blue/orange line behavior doesnt look strong at the moment, in my opinion. I would like to see it slope up more and begin to move higher up. That momentum can be enough to push price up RED ZONE. WE absolutely do NOT want Orange line over the Blue cross, this would indicate downward pressure, could give DESCENDING TRIANGLE fuel to break down. We also don't want LIGHT GREEN HISTOGRAMS to print, as it also indicates LOSS of BULLISH momentum.
CONCLUSION:
BYND is ABOVE the MAJOR RESISTANCE, that played a huge part in pushing prices down. On top of that the 42 EMA is converging to add extra layer of SUPPORT. Until PROVEN OTHERWISE, we have SUCCESSFULLY completed a MAJOR TREND REVERSAL, and may have BOTTOMED OUT, in my opinion. In the days to come we have to stay above the 42 EMA (BLUE), and BLACK LINES, maintain above the BLACK HORIZONTAL line in RSI, stay above the 0 level on MACD and more. If things, continue to stay above, probability of getting above RED ZONE increases signficantly. However remember there is always a chance of the opposite occuring, trading is not a game of certainty, thats why it is important ot continuously observe the charts to look for new clues. Keep an eye on the PRICE ACTION staying above our SUPPORT zones, DESCNEDING TRIANGLE, STOCH RSI and other bearish signals.
TRADE IDEA:
DESCENDING TRIANGLE:
1. Break below = take a SHORT
2. break above the BLACK line, take a long
-> Approximating Target of upside or downside, measure the base (green line) to the upper part of black line, (remember this is an approximate target, it doesnt have to hit target exactly)
TESTING BLACK SUPPORT LINES
If you see price come back down, we will most likely test the BLACK LINES, which could be potential BUY ZONES
YELLOW SUPPORT LINE:
If we find our selves back here, this is MAJOR BUY ZONE, in my opinion.
You can even DOLLAR COST AVERAGE
STOP LOSS
"Below the MAJOR RESISTANCE LINE"
"Below 42 EMA"
THANK YOU for taking the time to check out my IDEA! If you liked what you read, please do support me by FOLLOWING, BOOSTING and COMMENTING on what your thoughts are!
DISCLAIMER: I am NOT A FINANCIAL ADVISOR. This is by no means FINANCIAL ADVICE. Everything expressed is my opinion and for educational purposes. When trading always set your own strategies, focusing majority of time on risk management. Protect yourself with stop losses!
CHECK OUT MY PAST BYND IDEAS BELOW**********
Byndlong
BYND - bottoming out/ buy opportunityHi guys. So BYND is something ive been observing along with LMND and CVNA. WHich i believe these 3 have similar patterns, especially the BULLISH DIVERGENCE on large timeframes like the weekly.
This analysis of Beyond Meat is also on the WEEKLY. Im using the Weekly timeframe as i believe these stocks are good investments (holding for more than couple months) for this current bullish activity, which i believe is the beginning stages of a Bull run that will extend into 2024. Look for more info on upcoming ideas i post, as i will attempt to analyze MACRO stuff.
But anyway lets jump into BYND - Beyond Meat.
Keeping it simple. Ive outlined major levels on the Price Action.
White lines, Yellow Lines and Green Lines.
The 2 white lines are VERY IMPORTANT.
1. From bottom up, this 1st white line is showing a BULLISH DIVERGENCE when compared to my top 2 indicators (RSI and MACD). This is when the price action has a low, followed by a lower low. WHile indicators are printing higher lows (indicated by upward sloping white lines on the RSI and MACD).
2. The second white line, is this downward sloping Resistance line that depicts the bear move from BYND top price. We've have many interactions with this line but could not break above it and therefore it has pushed the price down to our current prices. Expect in upcoming days to weeks to test this white line again.
Remember the more times, price interacts with lines, the weaker the lines get so probabilities of breaking the white line are becoming more likely. Thats also why i believe BYND could have bottomed. And if we do break above this line, it will indicate trend change and probability of upside potential.
Yellow lines.
1. First one from bottom up, is major support level that was created Sept to december 2022. Last 3 weeks we've confirmed below it however, if you look on the MONTHLY timeframe, we have not yet confirmed below this line and are currently fighting to be above this. I see this as safe until proven otherwise. We are also currently on the weekly, trying to get above this line.
This also can mean we are forming or have formed a DOUBLE BOTTOM, which is a powerful bottoming pattern. Indicated by the 2 green curved lines.
2. Second yellow line from bottom up, is our next Resistance area.
# 3 and 4 from bottom up. Long ways to go till we reach these 2 yellow lines but just to give perspective. These are major major levels.
Green line
If we reach the green horizontal line, This is my 1st zone if it starts acting as support, where i say OKAY now we are ON and the next level would be the #3 yellow line. Things start to look GOOD here.
In relation to LMND and CVNA, which have played out. I believe Beyond meat will follow.
Especially if we close tomorrows candle above the 1st yellow horizontal line from bottom to top. I believe the bottom is and will be in.
INDICATORS:
1. RSI - Upsloping white line indicates BULLISH DIVERGENCE in relation to white line in Price action. Double bottom and having a DIVERGENCE is always a nice bottoming indicator. As my predictions for LMND were hit, i believe BYND will follow suit. Money is being made, itll move into these smaller cap plays.
WATCH the white horizontal resistance line. If RSI gets above this, the bullish divergence will start playing out and we will probably start breaking through yellow and green resistance lines drawn.
2. MACD - Histogram indicates stalling momentum but the lines indicate an uptrend of momentum, and convergence for the BULLISH DIVERGENCE.
2 indicators supporting the bullish divergence is better than 1.
3. Wave trend oscillator - Is showing a bottoming signal, though on this particular chart its not a great indicator due to false signals. I believe that along with double bottom possibly playing out, the Bullish divergence. This is current print is a psitive signal.
CONCLUSION:
Overall, BYND has been on a downtrend for 2 years now. Though that doesnt mean BYND can't go lower. ALong with Bullish Divergence showing in 2 indicators, a potential double bottom forming and volume picking up somewhat. I believe the worst has passed for BYND. The bottom is probable to be in. You can compare the movement of BYND to LMND in my post below or CVNA which has had a signficant move recently. In my opinion, this could be a nice area for buy or long entries.
If you liked what you read on this post, please do boost, follow and absolutely comment on what you thought or what you are thinking if you agree or disagree. Thank you.
DISCLAIMER:
The information posted in this idea is not financial advice, I am NOT a Financial advisor. This is my opinion only and for educational purposes. Please do take the time to think about strategies and to focus most of it on risk management. Never trade without stop losses. Thank you.
Above and beyondBeyond Meat will be huge in the coming years IMO as the transition from us humans eating meat as our primary source of protien will ultimatly be made harder and most likly very expensive (check W H O there plenty of documents on agenda 2030 to go with what im saying)
Alternatives/subtritutes to actual meat should see the growth as it becomes the norm, weve already seen in 2022 beyond meat in mcdonalds and other fast food chains and also in most of the big name supermarkets across the globe.
Like other risk on asset BYND has alos seen a 90+% rejection from all time highs, during these high is when beyond meat launched, it was when the partnerships with mcdonalds was seen and also when we started to see it on tv and shelves in these stores.
Anyone who listens to what i talk about will know price moves before the news and during the time above price was getting ready to reject with very clean bearish reversal pattern (check chart below) during which retial investers and the majority of traders who follow retial logic was buying into this asset beliveing it will rocket on launch, this is how these big banks and intituions get paid by drawing in the hurd and shitting down their necks.
What we do in here we change that, we take from the cherry at the very top and filter it all the way down.!!!!
Long term hold and buying here at $16 with the potential of us seeing BYND above $150 in the near future.
First level of resistance here is $33 breaker, once we recliam this we can most defiently be comftable with " the bottom is in" and we sit back and watch.
Also note we may see two draws on liquidty at $54/$74 with a possible correction after, here we can add to our postion.
Beyond MeatThis is just an observation: Beyond Meat (BYND) is breaking above its 4h EMA exp ribbon. It also just broke above its displaced daily EMA. These are two very bullish trend reversal signals. Regardless of fundamentals, these indicators are showing that there are no more sellers left and the trend may soon reverse. When everyone is still super negative about an asset, but the asset's chart shows that it is beginning to outperform the market, that's when you buy. Charts never lie. It is a fact that BYND has been outperforming the broader market since May making higher highs and higher lows. Now it's showing signs of an actual breakout. Only time will show if this will become a sustained breakout. Huge congrats to @Chartguru1 for calling the bottom on this several weeks back!
To Infinity and Beyond (Meat)?Beyond Meat - Short Term - We look to Buy at 60.97 (stop at 55.50)
Previous support located at 60.00. The bullish engulfing candle on the daily chart is positive for sentiment. We look for a temporary move higher. This provides an excellent risk/reward opportunity to fade the current bearish move.
Our profit targets will be 85.29 and 94.12
Resistance: 90.00 / 100.00 / 115.00
Support: 60.00 / 50.00 / 45.00
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BYND +50% soonI expect Beyond Meat to bounce off orange support. But there is still ≈ 20% before it. Additionally, cyclical analysis suggests a reversal from decline to rally in the second half of Jan'22.
I set the alarm when the thin turquoise line is broken, after which I will start purchasing by the pyramiding method.
Not a financial recommendation.
Take care.
BYND 195min setupThere is a wolfe wave setup on the 195 min time frame. The projected target is calculated by extending a linear line between pivot 1 and 4 and projecting the line. This is represented as the green perforated line, as shown in the chart. The projected target is 116 which is expected to reach this price target within approx 39 hours (195 min x 12).
BEYOND MEAT END GAMEDuring the next 2 months, the stock market will undergo a correction due to inflation fears. Beyond is a great company, however, this drive will cause the stock price to drop to the maximum possible retracement, .146 sitting at around ~$73/74. This is confluent to the bottom of the triangle.
The worst-case scenario is that we enter a bear market for some reason greater than inflation fears. If that happens then BYND will go to ~$33/34. Technicals Support this PT because the length of the head and shoulders along with the length of the rising wedge give the same number when we position the est trendline. BYND balance sheet isn't the best since they are consistently losing money.
The best-case scenario is we bounce from my target and retest the top of the triangle.
When the day comes where we break that triangle, I can see $1000 in a couple of years and $4000 by 2050.
BYND Super Bullish BTFD I dont care where you sit on the climate change debate as
one thing remains true and that is they want the world eating less meat
and eating this synthetic stuff which will soon enough be in every fridge
in the local supermarket .
Farmers are under constant pressure to reduce Co2 levels etc and cows in this
climate crazy world are harmful...In addition to that the major investor in this
company is buying up farmland like its going out of fashion
Ummm strange huh
Point is we all know where it is going and right now BYND has completed its
retrace and is without question screaming to be bought up so if you want this for the
Long Long term so you can tell the grandkids how you made your millions 30 years from now
then this is the opportunity for you .
Alternatively if you want short- medium term swing trade
to sell at first resistance test around 135/140 then this stock is a win win .
With expansion into the European market place into thousands of retailers during this spring and the
WEF claiming by 2030 that eating actual meat as we know it will become a rarity
its well worth scaling into this one .
Know your Invalidation and always use a stop loss
Like and follow me for analysis and signals
BYND - Bounce soon?BYND watching for a bounce from here.
Perfect touch of the weekly demand zone and hard bounce on 3/5, leaving a hammer candle to close Friday.
Also filled daily gap at same level.
Stoch oversold.
Also Held the important $135 level.
27 days down this reversal would be 'on time'
A Large long fib setup first traded in November 2020 with target at 232.74 and is still intact.
Formed weekly demand zone after double bottom and bounced.
BYND announced a partnership with Pepsi, massive gap up and then the sold it all the way
back down to the weekly supply zone, with earnings along the way.
Ideally looking for a gap up monday 3/8 to confirm
Beyond Meat has Retraced, Long From HereGood opportunity to long this from current price. It has retraced to 0.618 Fibonacci and filled the gap after spiking a couple of weeks ago. This is a market that is only going to grow and Beyond Meat are probably the biggest name in it. target is at least the all time high at 239.71.
BYND update... gap filled and Falling wedge breakout?BYND... watching this for reversal, news with Impossible Foods (competitor) cutting prices has really intensified the plant based market competition driving bynd stock price down. Tough news from BYND to overcome but keep a look out for market changing news. Also with ER approaching next month this could be a bit early but from a TA standpoint its looking like a nice dip buy. Also keep in mind we are in the middle of my channel with room to run either way.
BYND at great position to keep the UPTRENDThe stock: NASDAQ:BYND , that only few months ago consider IPO, came to our life as a money maker after it makes 300% only by 30 days of trading.
Since then, this stock moved a lot, and I think its finnaly arrive to place we can try predict its futere according to the last movments.
As I see it now:
1. BEND moved twice to break the all time high, both of time Its come down perfectly according to FIbonaci, and started return up.
2. The last movment stoped near the 200 $ , witch is symbolic price, and I can defently see resistance there.
3 the stop price is very near to the current price, and we can also see that in the last few days the stock kept being above that support level.
For this trade, I would buy with half of the buing power I usually does,
after 10 percent of movment I will join the other half.
my take profit will be around 200$ , witch let me leave with almost 40% up.
Of course, trading this stock is by our own risk.
I am not responsiable for any lose that this stock can make you.
Keep trading well.
BYND mad to BYND happy #stocksAnother example of the power of swing trading. This was a range trade that was a loser tested the low end of the range, held range lows with rate of change divergence and reversed higher. After todays enormous move I am going to cut half the position but the trend is definitely still bullish.
Beyond Meat ready for another run?Taco Bell said in a prepared statement that it expects to test Beyond Meat menu items in the next year. Taco Bell is owned by Yum Brands (YUM).
The Taco Bell agreement is the latest marquee partnership for Beyond Meat. On Nov. 9, fast-food giant McDonald's (MCD) announced it would begin offering McPlant menu items. (Source: investors.com)
The indicators are looking bullish once again on most timeframes.
Please leave me a message if you want to test the buy and sell indicators that i am using.
Its almost time to flip the burgerOn days when the market and my overall portfolio is doing well I cant help but concentrate on the losers. I guess that's the trader in me upset that everything isn't working. My mid range play has been beyond bad. Because the position is small and the stock is volatile I have a wide stop at the lows back in November at $113. As we approach the low end of the range (rectangle) its make or break time. I am hoping that we can get a bounce and then a further move to the upside above the trendline so the position can regain some losses. If we see any breakdown below $113 then it will be time to cut the position and wait until for another opportunity in the future.