BYND chart shows one gigantic bullish pennantA bullish pennant is forming when looking at the entire history of this chart. The price balances around the high volume line (red). The breakout of the pennant is highly speculative and could be way earlier.
I don't give financial or investments advice just my point of view.
BYND trade ideas
Beyond Meat seems on the verge of a breakoutIt seems to me that last months of the Beyond Meat chart is showing similar aspects to an earlier rally. Aside from the chart data, there's also a lot of bullish news going around. I don't expect this to lay around it's IPO valuation price for long.
This is no financial advice.
BYND UpdateSo my pennant wasn't correct last week, it actually formed a much bigger one. As you can see, it's overbought on the hourly, so probably a bear trap dip this afternoon and possibly tomorrow. Things like to back test the pennant before breaking out so a down day won't surprise me but I would not short this stock.
Rather wait for the breakout and go long. Target appears to be gap resistance from earnings, $85.
Of course everyone knows this garbage can get there in a hurry with a short squeeze, so it may happen as early as tomorrow, lol. Might be worth a day trade. Keep an eye on it tomorrow.
BYND reversalI don't even like BYND meat
but supposedly bears are piling onto the stock, and so I looked
The chart looks poised for a reversal higher on both the daily, weekly, and monthly charts.
If they got it to break to new lows I could see it going lower but right now it looks like it should go higher, which would kill all the bears.
BYND - levels to watch 1/10/22$BYND
Support 62.94
Resistance 70.57
Consider Calls above 72.75
Consider Puts below 62.94
The 107k 70p sell on 1/07 caught my eye. Most other large purchases on 1/07 were leaps - the other big purchases that are DTM puts seem to be the closing of some OI - will confirm today
see my twitter for more
BYNDLooks to me like BYND is forming some sort of pennant today.
I think it moves big on Monday, could be worth playing a spread or maybe a protected long position. The top is probably in for the day so you might as well wait until right before close to make a decision.
I'm leaning bullish based on daily chart patterns but it looks like a lot of people who bought the past month are selling at $71 and bailing. That was the resistance for the past month. i still think it's a garbage stock though, a mashed pea recipe is not worth $4.5B.
BYND at a remarkable opportunity!$BYND as you can see, we have a nice pennant charted up with a breakout move of ~$130
We can see the breakout to the downside. But it seems that this is going to invalidate the initial breakout by catching support here and continue the breakout move up. If we can see just a tad more confirmation of this support, this would make my target for BYND to be $202
Making this a a 170% return on investment if you enter long at $75 (shares)
I largest concern is the $113 level, because here we can reject off of the pennant and begin the downtrend again. I will be watching it carefully at that level
Reversal here is also supported with alot of strength coming in with $SPY, $QQQ, $SPX, and $ES and massive buying pressure on BYND down here
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To Infinity and Beyond (Meat)?Beyond Meat - Short Term - We look to Buy at 60.97 (stop at 55.50)
Previous support located at 60.00. The bullish engulfing candle on the daily chart is positive for sentiment. We look for a temporary move higher. This provides an excellent risk/reward opportunity to fade the current bearish move.
Our profit targets will be 85.29 and 94.12
Resistance: 90.00 / 100.00 / 115.00
Support: 60.00 / 50.00 / 45.00
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Beyond meat to tripleBYND has touched its absolute support derived from two other previous lows and two previous highs, forming a symmetrical triangle.
I have this chart in GBP for reasons i'm not going to explain. But BYND has the potential to get to £140 within next 6-8months IMO. This would direct it right ot the 0.786 fib level.
$BYND What type of meat does Beyond have for us in 2022$BYND has been riding the previous sloping resistance. Looking for a move back towards the new sloping resistance. PT ~75 -> 80~ short term. then back down. A break out of the red sloping resistance could retest then breakout to the upside, a failed test would bring $BYND back down to the demand zone.
Beyond Meat $BYND Setting Up For A BounceBeyond Meat BYND is holding nicely on the daily and weekly at key support. Risk/Reward to first profit target is good. I'm scaling in here with a relatively tight stop loss. This is the level to hold, and if it gets much lower, there isn't much price support south of this level.
Trading plan on BYND for 2022. This is what I want to see. The main level I'm interested in is the support at 50.00. If the price reaches that level, I will start thinking about bullish opportunities.
Let's assume that happens. The pattern I want to see is:
First: breakout of the current descending trendline
Second: a corrective movement with similar proportions to the red line you can see on the chart
IF all that happens, I will develop setups towards the next relevant level at 160.00. The horizontal yellow line you can see on the chart is a price level I will use to move my stop loss to break even because it may work as a reversal zone. This setup may become available between 30 to 60 days. In the meantime, it's important to have patience and avoid getting involved with low-quality scenarios.
Thanks for reading, and feel free to share your view on the comments ;)
$BYND - Resting on fib extensionStock is currently resting on fib extension .786 fib extension around $66. If the price fell through that support, we can see it heading towards $39 with little support around $50.
For now I will be watching from the side lines.
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How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
Diamond reversal patternClearly a diamond reversal pattern for beyond. Think a reversal is due in this general small / mid cap market.
We broke out the diamond a couple trading days ago and have formed a bullish flag pattern since as we have retraced back towards the diamond support level.
The Pattern suggests a price target of $81 within the next 8 trading days or couple of weeks.
Don't forget that there's a gap to fill at $91 dollars so I would say we're likely to use $81 as support before breakout to $91 and $150 next.
Wishing you all a great Christmas and a successful start to the new year trading.
See you on the moon