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1BYND trade ideas

BYND Choppy but Bullish at 0.50 Fib/PL. BYND Today's Date 11/18/20 Wed 3pm Bullish Orange PLs drawn from 4h chart. Plan TLDR: Wait til stock falls to 0.50fib/strong PL Support/132.55, buy in, sell at 0.618 fib (140.39) Plan: 0.50 Fib & 132 price point have been strong supports for BYND. The stock fell sharply due to McDonalds announcement of the competing McPlant burger, and it looks like the stock is zone trading between 0.5 fib and 0.618 fib as trading assess uncertainty. Make the quick play -bullish on 0.50 fib.
NASDAQ:BYNDLong
by jwjustinwatkins
BYND corrective wave completed?As Stock Plunges, Beyond Meat CEO Says Relationship With McDonald's 'Very Strong' Plant-based meat producer Beyond Meat Inc’s (NASDAQ: BYND) stock spiraled 16.9% downwards Tuesday. The selloff was triggered when McDonald’s Corp (NYSE: MCD) did not name Beyond Meat as one of the suppliers for its plant-based product line, McPlant. What Happened: Beyond Meat investors panicked over fears of potential competition from McDonald’s in the plant-based meat substitutes market, CNBC reports based on Wall Street analysts’ comments. McDonald’s plant-based meat supplier is still not made public, leading to speculations over its business strategies and product mix. Select McDonald outlets could restart the meat-free foods in 2021. USA TODAY quoted McDonald’s international president Ian Borden by stating the McPlant lineup is “crafted exclusively for McDonald’s, by McDonald’s.” In discussion with Jim Crammer on Mad Money show Tuesday, CEO of Beyond Meat, Ethan Brown said, “I believe our relationship with McDonald’s is very strong. We’re involved with McDonald’s on a number of different fronts.” Brown also said that Beyond Meat is “doing things now to prepare for things in the future that involve McDonlad’s.” He did not clearly say if BYND was the chosen supplier.
NASDAQ:BYNDLong
by ShukriMahadi
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