BYND trade ideas
BYND was a top gainer,rising +112.91%.Expect Uptrend reversalTickeron AI shows that Beyond Meat (BYND, $151.38) was one of top quarterly gainers, jumping +112.91% to $151.38 per share. Tickeron A.I.dvisor analyzed 13 stocks in the Food: Major Diversified Industry over the last three months, and discovered that 13 of them (100%) charted an Uptrend while none of them (0%) trended down. Tickeron A.I.dvisor found 62 similar cases when BYND's price went up 15% within three months. In 40 out of those 62 cases, BYND's price went down during the following month. Based on these historical data, Tickeron A.I. thinks the odds of an Uptrend reversal for BYND are 65%.
BYND Future BullI'm too afraid to short anything during this time, so I think I'll wait for this one to enter a range with 146 as support and 168 as resistance . Looking at RSI it may be foolish to buy at this time, with more reward possible to the downside, and considering the overbought market a move down this week could be in the cards. This is all theoretical, of course!
BYND - Rising Wedges EverywhereBeyond Meat, much like Amazon has also created a rising wedge pattern with bearish RSI and MACD divergences, meaning it is making subsequently higher highs with less and less strength. I expect this to fall significantly. Many of the so-called "meme" and other popular stocks have taken on this look.
BEYOND MEAT BYND - AIMING AT THE GAPHello, despite I like this stock a lot, we must be honest and say that the Short Term action is short. Bearish Divergence on the daily and there is still a gap to be filled at 95-111.
Won't happen all of a sudden, 135 is a medium level, many volumes occurred there.
My strategy is to buy a put 135 10Jul (120$) and finance it with the sale of a 175 call with same maturity(300$).