BYND has been on a terror for the last few days, coming back from a 52 week low to embrace an all-time high. In total it took 30 days to rake in a 230%+ gain. Now the rocket has come to an end. Here's how the chart plays out:
- After seeing a last-ditch spike of buying interest, it gapped up out of its previous channel to set it's the new high in price and volume.
- A second attempt at the high was repelled before it retraced to the first Fibonacci level of 0.236 ($99 Resistance Level)
- Established sideways channel
- 2 Additional attempts to test past high, both failed
- 6 progressive new lowes
- Increase selling pressure forced it past $99 to $97
Projection:
BYND will continue to fall throughout the day tomorrow and second Fibonacci level and resistance point of 0.382 ($90.00)I'd love to hear your thoughts. Leave a comment and let me know if you agree or see something different.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.