Beyond Meat Still a relatively unstable stock in general of approximately 40 days of stability before a drastic change in price.
the stock is still trending downwards within the parallel band.
75 remains as a strong resistance line which can become a strong support line after a breakthrough. A confirmation of breakthrough out of the band will be a great indicator of upwards trend thereafter.
Daily & weekly MACD and RSI indicates an upward pressure but remains in the negative territory.
BYND trade ideas
$BYND headed higher; tracking broad indexes.$BYND completed the (B) wave (lilac B) of a simple zig-zag correction (3-3-5); now it is heading up to the red box to complete the lilac C. The lilac C will be structured as a 5-wave impulsive move to the upside and waves (1) and (2) of that impulsive move completed on Friday. After that lilac C completes $BYND should target new lows.
BYND to Long, in Uptrend, entry at Demand zone.Condition:
1.IPO demand zone confirmed.
2.Downtrend line was broken by break away Gap.
3.in Uptrend, pullback to a fresh demand zone.
Entry below 69
Stop: 63
Target1: 89; risk/reward=1:3
Target2: 100; risk/reward=1:5
This is a trading school homework. I need 6 months to practice trading plan.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
In my real trade, I use options. I bought JuL C95/110 Call, limit 2.35;
Risk:reward=1:6. No need to set stop.
Sum of my ideas:
2 active, 13 winner, 1 loser, 0 pending for condition;
4 analysis only, 8 cancelled;
BYND UpdateBYND finally made it back to the original post IPO opening price as I predicted it would 6 months ago.
The actual IPO price was $25, so it has more room to go down. I keep saying this about every company, so you know I'm still bearish. We're still looking at $3B for a mashed pea recipe.
Still bearish long term, but at least the bubble has popped.
BYND: No Bid.Beyond Meat had quite the run-up following their Nasdaq debut, but today we see them trading below their IPO price for the first time.
Despite their success in getting to public markets quickly, there are questions as to their overall liquidity. Free cash flow took a big hit in Q4, and similarly so after Q1 earnings in late February.
For some context: Impossible Foods is seeking short-term credit facilities in a similar position.
www.reuters.com