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Beyond Meat, Inc.

$BYND Potential Long

By keberoo
Updated
After 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.
Comment
Bounced as expected. Watch for confirmation before taking entry unless risk tolerance is high.
Trade closed manually
Exited calls For +45% profit. Still looks like a good entry but need to free capital for other plays.
Comment
Next PT $145
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Old resistance acted as support as seen in the last hour of trading. Be cautious of that it gave away most of intraday gains.
Trend Analysis

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