Looking for a Short Entry Position, BYND has more downside atmBYND had terrible earnings and that stumped the growth of the next big thing regarding plant based meats. An ad campaign helped push the price up but it seems the company has been very quite as of recent since earnings report. I see more downside before any sort of recovery.
1BYND trade ideas
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.
BYND On WatchBeyond started the year running up to $120 with volume. It fell to the March lows on stagnant/declining volume and then broke back above the $120 level in May on increasing volume again. It spent the rest of the year holding this level, especially on November 10th. We saw it hold $120 with one of the most high volume days.
I will certainly be watching it this week. Feb $200 calls are going for $0.56.
Stock and option plays appear to have decent risk to reward.
beautiful Gann Fan on Beyond Meet, WeeklyGann Fan is my thing, i like it,
sometimes everything goes wrong but when it works, its awesome
you can see all price action was included in Gann Fan here
i did a typical break out but at this point normally, the bulls are tired
you can expect momentum to be off, and see a new brearish gann fan formed
sometimes its for a short time
but still now, i think the move up is over
$BYND Beyond Meat 🥩 Shorts Pilling on pressure
BYND is at a make or break point for the stock.
The weekly candle is currently sitting on the POC and the 50MA.
If this give sup a capitulation is likely to the $100 region.
Since the earnings disaster the company has been been tight
lipped and the positive PR's have came to a dramatic halt.
Having lost major support on the daily chart, the 25% short
interest will see this is as a easy feast in the making as tax loss selling
could intensify the selling in coming days.
Longs must be very worried and rightly so.
BYND - 2H TF - RectangleRectangle forming on 2H Chart of BEYOND MEAT. It can give nice movement above 146 -> 150. Volume plays an important role in such breakouts, so let's see how it reacts on breaking out of the rectangular box. I'm learning chart patterns as of now. You can plan your trades accordingly if you know how to trade these patterns.
BYND got grounded today, but it creates buying opportunity!BYND got slammed by more than 7% at the start of the week before the new year. But this may give us some space for fresh air and possible buying opportunity. The overall sentiment of markets is positive since President Donald Trump signed the coronavirus relief and government funding bill. The vaccine is rolling out and hopefully, this crisis will soon come to end. Also, markets were down a bit last week and it´s time to even out the losses!
I can see a potential Head´n´Shoulders pattern forming just before creating a second shoulder. My view is that after today´s drop the buy around the price of $123 – $126 is reasonable. I personally believe that bulls will put up a fight. Just in case, place Stop Loss just below the minor psychological level of $109. If the price will go north, I expect to withdraw from my position at a price of around $160 – $165. This could happen before March 2021.
After reaching $160 my future position will depend on market and company earnings in March.
Thank you for reading, and I wish you a happy new year
BYND BuyBYND Buy,
- 30 min time frame
- Support and resistance being well respected (range)
- Support 135, Resistance 145
- Expecting the price to bounce off 135
- Rsi respecting 33.00 4 times with the support at 135
- Waiting for confirmation (Break of 137.50)
- Stoploss 134.50
- Take profit 144.70