BYND trade ideas
$BYND Beyond Launches new product for huge Chinese Market
BYND's new pork replacement for the Chinese market may help
ignite a more sustained recovery in the stock .
All the bad news was dropped on earnings, so maybe the bottom is in .
Alert set for move above $132. into the gap.
Short term target $140- $141
$BYND Potential LongAfter a disappointing earnings, MFI is slowly reaching oversold levels. That combined with the strong 50% retracement level that has seen solid support throughout the year. However, ADX shows that there is little to no trend. Potential catalyst with $MCD. I would continue to monitor this stock movement and look for a trend reversal comfirmation.
BYND target 165 for wave 3Not the clearest 1-2 structure, but it is valid. I would be confident taking a position with a stop under the November low at 105, for a trip to 185 as part of wave 5. Copyright Rohan Karunaratne 2020
BYND has bottomed.We are looking to bounce right off 200SMA and 0.5 fib retracement. Going long above $127. Later will decide if i should close near 100SMA.
$BYND target $138 next weekKijun Sen is flat and more often than not price reverts back to Kijun Sen. If price is at the current level, it will revert back soon to $138.
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.
BYND still no clear bull/bear trend, waiting on target 140Got a request for BYND, so I think there are 2 pathways going forward. Either we get a clear 1-2 off the low, to begin a bullish trend, and this would only hold true if the low of day was not broken. Or we can get a break of the previous low, and continued pullback into our wave 5 target around sub 90. Either instance, I do not plan to short, nor buy in until a CLEAR sign of a trend, so if you are planning to trade this for the longer term for target 180, wait for confirmation before taking the position. Copyright Rohan Karunaratne 2020
great chart request!BYND good dip buy but id be cautious, im watching for a break of 133 for a long to 140. not going to pull the trigger too early here. going to be patient! it will pay off ! :)
Rising Wedge Support and Hidden Bullish Divergence on MACD |BYNDBYND has had some volatile movements this year, but generally trending upward. The entire year, BYND has been trading in a beautiful rising wedge. The support trend line has seen three reversals (mid-march, start-april, start-september) and the resistance trend line has seen three reversals as well (mid-jan, mid-jun, mid-oct). After the mid October reversal BYND has lost 28% of its value in a steep decline and has now arrived at the support trend line. If BYND would find support here, a hidden bullish confirmation will occur and BYND will likely reverse to the upside with a 40% growth potential before reaching the resistance trend line.
Please be aware of upcoming earnings at November 9th!
