BYND trade ideas
$BYND Beyond Rips on BABA deal
BYND bounced perfectly of the 50ma yesterday and today we see a huge reversal on the news of
a super deal with Alibaba Retail.
Targets $151 local Fibonacci golden pocket
$156 Historical daily resistance | pivot point
$166 Major Fibonacci Golden pocket
Short interest remains high at 16% so may get a squeeze today.
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BYND decent scrimp soon BYND meat is looking like it could be a 50% fib trade with a decent momentum before earnings. The Stochastic and technicals may signal a buy, but downward pressure may put further price-action pressure. A strong balance sheet may help the company get over the hurdle in August.