BYND
BYND'S Potential long term upsides: Forcasat for the next month.Beyond Meat was already coming down when some dude ate a bat. The amount further it dropped, is not by very much in comparison to where it was already. It seems like BYND could be positively effected by the new normal. More young investors trying to save the world. Any who last time we got here from the bottom- we blasted through $100 and did not look back. I expect the same.
Don't eat MEAT- EAT BABIES!!
***This is in no way shape or form financial Advice***
$BYND Falling Wedge + DivergenceWEEKLY CHART
DAILY CHART
Main Support Lines
$136.38
$57.55
As we can three in the weekly, daily, 1-hour chart of Beyond meat we can see 2 main thing. First the falling wedge and second a regular bullish divergence.
1. Falling Wedge
We can see it clearly in all the charts forming with the 2 main trendlines forming it with the purple colour.
2.Divergence
We can spot the 1st divergence in the daily chart with the blue colour when as price dropping the rsi indicator is rising. The same thing we can see in the 1-hour price chart
SCENARIO
Both the falling wedge and the regular bullish divergence indicates that in sometime the price will break the wedge with breakout, and ultimate go to the support at 136$
BEYOND MEAT ($BYND): Bullish Beyond Earnings?✨ We provide charts every day ✨
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Looks like bull, tastes like bull, but its time to find out what this Beyond Meat is really made of going into earnings. Look, people need to eat even during COVID, but are they eating enough Beyond Meat for price to break through resistance, that is the question?
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1. Fractal Trend is showing an uptrend (Green background color) for BYND on the 30 minute chart.
2. An uptrend into earnings is good news for Beyond bulls. That said, we are making plays based off of Breakaway Scalper, which currently is signaling neutral with a Grey Bar color after a profitable long (Green bar color) that ended April 27.
3. We are currently waiting on a definitive signal from Breakaway Scalper (for example a long signal as long as the uptrend remains).
4. Assuming the uptrend continues, we will be looking for reactions at R1 - R3 to the upside.
5. If we head lower, the S1 orderblock cluster is a logical spot to find support, while "the floor" highlighted on the bottom represents the last hope for Beyond bulls.
BYND exhausts momentum, rolls over, and taps outs$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.
Beyond Meat - $BYND - Low Risk Channel PlayBeyond has gained major traction after COVID-19 and China's opening as well as solidifying deals with large corporations like $SBUX and others. With COVID-19 and the recent news of issues with supply chains regarding meat production we saw a major move to the upside last week. I believe we will see a large correction in the coming week, however I do believe the long-term outlook on $BYND to be quite bullish. In the short-term, restaurant related companies are still struggling and this should have a major affect on the stock, a high-probability short is in play targeting the $80 area.
3 ways to play this earnings | Beyond Meat Technical Analysis3 in-depth scenarios taking you through how I plan on playing earnings with NASDAQ:BYND
Scenario 1: Mini Falling Wedge (Bullish)
If this is indeed a falling wedge, we should see it smack both support and resistance 3 times prior to its decision.
If this is the case, I'll be looking to grab a position later this week for a short-term trade.
Scenario 2: Massive Bullish Channel
This is why we need to be very patient with this trade. TA would tell you we should see another retest with even lower lows before breakout long-term. If we hold under I'll back up the truck and prepare to load up the puts.
Scenario 3: Beautiful Earnings Rip
In the case of a massive breakout, I will aim to grab a few calls with some time (expiring 2 weeks after earnings) with a strike around $120. If we get a solid correction I'd hope we can grab something like $115 strikes for the price of the $120 strikes at open.
Once again, if breakout is successful we will see price movement toward $120 before earnings most definitely. If we grab 3 or 4 $115 calls expiring may 22, we will probably be able to sell 2 for our original investment plus profit. This would allow us to hold the remaining contracts through earnings.
"Risk it for the biscuit" but secure your profits at the same time :)
Depending on the next 48 hours, I will choose one of these scenarios. We will ball out, this is Easy Loot.
DO NOT TRADE THIS! YOU WILL LOSE MONEY...
DOTCOMJACK