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Beyond Meat Chance for more Turmoil ExistsHi Guys! This is a Technical Analysis on Beyond Meat (BYND) on the 3 Day Timeframe. Ive been following BYND for a long time, trying my best to scope out a BOTTOM. This is an UPDATE to my ongoing analysis. So check out my other charts below for more context. **Note: Our Current Candle has just begun today 08/14/23 and will close on 08/17/23 We were doing well until we got rejected by the MAJOR RESISTANCE ZONE (Red zone) Even after we got rejected we did well staying ABOVE the 50 SMA. But we were not able to sustain SUPPORT and fell through. We also broke back down below the MAJOR RESISTANCE Trendline from June 2021. Until proven otherwise, the breakout ABOVE this trendline is now a FAKEOUT. It is absolutely CRUCIAL we get ABOVE this TRENDLINE this WEEK to continue our Trend change attempt. And also get back above and confirm SUPPORT on 50 SMA. The Longer we stay below the chance of further PRICE DECLINE is more PROBABLE. This can be a Good and Bad thing. Bad especially for those who have bought BYND at higher prices. But very good in the sense that it would create a sense of no return. This can lead to a necessary capitulatory event where people basically give up, laying the foundation for prices to finally start increasing. The next levels to watch are the labeled SUPPORT areas: 1. RED Support TrendLine 2. Black Resistance tuned SUPPORT trendline 3. MOST IMPORTANT -> Horizontal Support line labeled MAJOR SUPPORT 4. Last defence = Dashed Red Support Line -> If we do break & CONFIRM below the RED Dashed line, this would be the Capitulation event where everyone gives up. COuld be a potential scenario to go LONG. It also would, provided the indicators match/support the pattern, STRENGTHEN the BULLISH DIVERGENCE thats forming. (For more info on the DIVERGENC, look at my previous charts on BYND BELOW) Now with our Indicators, there are clues in the history that indicate and support further turmoil. Notice our STOCH RSI We are currently in a BEARish move down to 20 level. The last 2 times we reached here, we stayed below the 20 level for 59 days and 56 days. This caused prices to drop significantly. We would need to have a quick BULLISH cross and move back upwards or not stay below for extended period of time. Along with the STOCH RSI, pattern in the RSI when found in correlation with identified pattern in STOCH RSI supports the PRICE DECLINES. -> The pattern is when the Orange RSI line crosses below the BLACK line and stays below for extended periods can hint at price DECLINES. Stay level headed, wait till the end of the Week for Clarity. There is always a chance we get back above and continue upwards. __________________________________________________________________________________ Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. Stay tuned for more updates on BYND in the near future. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
NASDAQ:BYND
by SafofAllTrades
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**********
NASDAQ:BYNDLong
by SafofAllTrades
VEGA.CN Pulls Away from Plant-Based PeersNotwithstanding the broader downturn in both global markets and the plant-based sector, PlantX (CSE: VEGA) has been steadily tracking gains over recent weeks that leave the stock +100% over the past month as of 10:30AM Monday June 13th. Both today and Friday VEGA volume was >1M, i.e. an order of magnitude above its avg 3mo volume. From what I can see, two major catalysts may be behind this dramatic jump in SP: -Last week the Future Markets Research Tank released an equity research report that focused in on PlantX in a broader comparison with its sectoral peers. The day following the release saw a significant jump in volume, indicating that the equity research may have exerted a strongly bullish influence on retail and institutional plant-based investor alike, in particular as liquidity contracts and investors are searching for safer plays to hedge risk to the extent possible in today's bear market. -Today PlantX released revenue metrics for last month which are overwhelmingly positive. In May the company generated $1.5M CAD in revenue. Quoting directly from the PR, "PlantX's gross revenue for May 2022 increased by $823,842 compared to May 2021, when the Company achieved gross revenue of $717,944 net of wholesale revenue, representing year-over-year gross revenue growth of approximately 115%." Not too shabby, especially given the contraction of consumer spending power amidst sky-high inflation and worsening macro-economic conditions. We'll see how global markets perform this week and what VEGA's trajectory forward will look like, but its safe to say that PlantX has been leading the sector in recent weeks in terms of price action gains and emerging profitibility. MACD poked its head across the x-axis today for a bullish breakthrough, and I personally am feeling optimistic.
CSE:VEGA
by EagleEyeAnalytics
PlantX (CSE: VEGA)(OTCQB: PLTXF) Undergoes A Bullish BounceAfter tracking a multi-week downtrend amidst notable levels of background volatility both on the CSE and global exchanges as a whole, PlantX is riding upwards on a burst of bullish investor sentiment. VEGA.CN is trading +66% and PLTXF +45% since market open 5/19. While the plant-based sector as a whole has seen gains in recent days, PlantX's double digit gains outpace the competition by a significant factor (see VEGN, CSE Comp Index, and TTCF for examples of sectoral peer performance). VEGA.CN has likewise seen a surge in trade volume, as reflected in the PVT below and testifying to an uptick in investor engagement. Meanwhile, momentum indicators from the MACD point to the initiation of a bullish reversal. While a technical pullback is to be expected after such rapid gains, PlantX's share price gains in the past week are a sign that the market is responding positively to robust MoM revenue growth and an aggressive M&A strategy that is quickly transforming the company into a plant-based ecommerce giant serving an international consumer base.
CSE:VEGALong
by dave_kellr85
BABY.TO Outperforms Sectoral and Market IndexesEyeing market open today, it looks like investors may be in for some relief after a crushing past couple of days of trading. Here I hone in on the chart of Else Nutrition (TSX: BABY). After closing green yesterday and a green open today, it looks like BABY investors are holding the line against the type of capital outflows afflicting US and Canadian markets. First lets take a look at the macro-global backdrop. To date, the US is experiencing a historically severe baby formula shortage as a delayed consequence of supply chain disruptions. The situation has reached a point of severity where US regulators are considering placing purchase limits for baby formula products on major e-commerce platforms like Amazon. As BABY ratchets up production and points of sale both online and offline (just yesterday they announced a strategic agreement with Kroger), they stand to gain from the zero-sum game of formula shortages. Compound this with ever expanding awareness of and desire for plant-based goods by consumers, and BABY appears to be positioning itself as Gerber for the next generation of tots. The company also recently received a Clean Label Purity Award for having the only baby cereal that is heavy-metal free on the US market after a damning consumer safety investigation launched by a congressional subcommittee into the issue of toxins in infant/baby foods.On a final note, last week they announced the acquisition of SNAP eligibility, allowing them to provide plant-based, safe, and nutritious food to America's underprivileged. In other words, bullish catalysts galore. Now lets take a look at the charts, and I'll qualify this by stating the obvious: markets have officially entered correction territory and investors are feeling the burn. Major exchanges are down double-digits YTD, and the first four months of 2022 were the most bearish for US equity markets since 1939. So in other words, the market as a whole is increasingly looking like a dumpster fire, while BABY is trading strong and maintaining a YTD resistance around the $1.12 mark despite downward pressure from sellers/double digit SIR/short activity. RSI places thus baby in slightly undervalued territory, and its approaching the 50-day MA which, given an upward breakthrough, will be a strong bullish indicator. MACD histogram is started to give of signals of a positive momentum reversal, and given the green markets today I think we're in for some gains. And now for the compare-contrast; over the past month BABY is up slightly, but its massively outperforming practically any baseline. They've left the DJI and TSX/S&P composite indexes in the dust in terms of market benchmarks, and the VEGN plant-based ETF has fared even worse. For the fun of it I threw in BUB.AX as well, an ASX-listed baby food/formula manufacturer, to see a peer to peer comparison. While BABY is ~+1% in the 1M timeframe, BUB is down a whopping 24%. BABY has been holding its ground during the worst four months for American equities markets since before WWII, and continues to roll out bullish catalysts that aren't just PR fluff but substantive, revenue-generating operational updates. I'm maintaining my personal BUY/HOLD rating for BABY, but that's just my two cents so DYOR.
TSX:BABYLong
by jw_empower
Trading plan on BYND for 2022. This is what I want to see. The main level I'm interested in is the support at 50.00. If the price reaches that level, I will start thinking about bullish opportunities. Let's assume that happens. The pattern I want to see is: First: breakout of the current descending trendline Second: a corrective movement with similar proportions to the red line you can see on the chart IF all that happens, I will develop setups towards the next relevant level at 160.00. The horizontal yellow line you can see on the chart is a price level I will use to move my stop loss to break even because it may work as a reversal zone. This setup may become available between 30 to 60 days. In the meantime, it's important to have patience and avoid getting involved with low-quality scenarios. Thanks for reading, and feel free to share your view on the comments ;)
Editors' picks
NASDAQ:BYND
by ThinkingAntsOk
30
Tattooed Chef Inc - Outbreak ALERT - Bullish for 2021 - Hey fellow Traders, first of all i wish everyone a succesful and happy new year, may your dreams come true! Now lets get back to business, today i´d like to talk about NASDAQ:TTCF As we already saw it was forming an strong resistance at the 24 ish level , but we could finally manage to break that with good volume coming through and positive newsflow. What does this mean for future investors? So it would be a very healthy and good sign to turn the previous resistance level into a new support line. Also it signals us that the stock is ready to move higher to the next targets. But letme give you some reasons we are bullish going long into 2021: Incredibly well positioned in such a fast growing market. Vertically integrated company = from designing the to growing and packaging - everything comes from one hand. 38 Current SKUs in market, 62 by end 2021.Competitor BYND for example only has 9 SKUs. 2 Billion AD Impressions in 2021. First huge marketing campaing will happen this year with the agency NitroC. Expansion to Mexico and Europe is about to start. More than 17% held by Institutions which will only increase by time. Profit margin more than 20% which will only increase. Already in the 4 biggest US retailers Target and Walmart tests are outperforming. Category sales are up huge. Analyst coverage promised soon. Fiesty CEO & Highly Innovative with Sarah. Sells through Q4 was said to have been incredible. Media coverage through Cramer on CNBC , Youtubers and Blogger talking about this stock. Introduced to Puplix,Kroker , 7 Eleven and dozen more. I could continue this list like forever but i want to encorouge you guys to do your own research. Investing is always invvolved with a risk of loosing your capital , so this is no investment recomendation at all. Just my personal opinion. You will soon realize this is the start of something big, and they haven´t even been paying dividends yet. This could be a hold forevere stock if things play out as planned. If you like this idea please feel free to leave a comment or follow , it would be greatly appreciated. Greetings, Sebastian
TLong
by Sebastian-TradingExpertsEU
1