4BYND trade ideas
Rising Wedge Support and Hidden Bullish Divergence on MACD |BYNDBYND has had some volatile movements this year, but generally trending upward. The entire year, BYND has been trading in a beautiful rising wedge. The support trend line has seen three reversals (mid-march, start-april, start-september) and the resistance trend line has seen three reversals as well (mid-jan, mid-jun, mid-oct). After the mid October reversal BYND has lost 28% of its value in a steep decline and has now arrived at the support trend line. If BYND would find support here, a hidden bullish confirmation will occur and BYND will likely reverse to the upside with a 40% growth potential before reaching the resistance trend line.
Please be aware of upcoming earnings at November 9th!
BYND running up to ER?NASDAQ:BYND bounced off support at $140 after being extremely oversold. Looking to recapture and close above $158 to confirm a reversal. MACD bullish crossover indicating it wants a move higher.
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BYND Long, Gap into DemandDown below rectangle consolidation
Gap into Demand
Demand Confirmation
entry 121
stop 111
target: 165; Reward:Risk=4:1
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$BYND Looking for Reversal In Beyond meat
What a horrible day for BYND investors as the company announced some below par
numbers for the quarter, that came on top of a intraday decline on MCD news.
In teh afterhours the stock did find support on the Fibonacci Golden pocket and has since bounced 10% .
The stock is very oversold and the earnings call may have eased some fears .
The fact that the stock needs 50% to climb back to Oct highs may attract some bargain hunters.
Is the stock can reclaim the 200ma on good volume $141 would be the next significant target
$BYND dumpy dumppost earnings, this thing dumped below 200 MA and all the way to earnings gap from May 2020 (105 level). This is also the level before it gaps up after June 2019 earnings. If this level won't hold up only bad things can happen, 101-98 range, 88, 83 and so on. 105 - 125 is choppy chop area
THE WEEK AHEAD: DKNG, BYND, LYFT EARNINGS; XOP, GDXJ, SLV, QQQEARNINGS ANNOUNCEMENT VOLATILITY CONTRACTION PLAYS:
WKHS (18/146/38.8%),* Monday, before market open.
PLUG (32/100/25.6%), Monday, before market open.
DKNG (32/89/23.6%), Friday, before market open.
CGC (39/132/23.5%), Monday, before market open.
BYND (32/77/18.9%), Monday, after market close.
LYFT (16/71/18.0%), Tuesday after market close.
Pictured here is a BYND December 18th 130/200 short strangle that was paying 7.95 at the mid price as of Friday close, with the short legs camped out at the 18 delta. This yields at or greater than two times expected move break evens and a delta/theta metric of -.58/23.86.
Alternative Defined Risk Setup: BYND December 18th 125/130/200/205 iron condor, paying 1.59 at the mid price as of Friday close with break evens at the expected move on the put side/greater than 2 x the expected on the call and delta/theta metrics of .96/2.45.
Unfortunately, WKHS, PLUG, and CGC all announce on Monday before the open, so any play would've been best put on before the end of Friday's session, although they could still be playable after they make their earnings announcement move.
LYFT: Short straddle or iron fly.
DKNH: Short strangle or iron condor.
EXCHANGE-TRADED FUNDS RANKED BY PERCENTAGE OF STOCK PRICE THE DECEMBER AT-THE-MONEY SHORT STRADDLE IS PAYING:
XOP (14/53/14.1%)
USO (9/57/13.4%)
GDXJ (16/47/12.9%)
SLV (38/50/12.7%)
GDX (16/39/10.9%)
EWZ (17/41/10.7%)
XLE (25/41/10.6%)
BROAD MARKET RANKED BY PERCENTAGE OF STOCK PRICE THE DECEMBER AT-THE-MONEY SHORT STRADDLE IS PAYING:
QQQ (25/30/7.2%)
IWM (24/29/7.2%)
SPY (19/24/6.0%)
EFA (21/21/5.3%)
IRA DIVIDEND EARNERS RANKED BY PERCENTAGE OF STOCK PRICE THE DECEMBER AT-THE-MONEY SHORT STRADDLE IS PAYING:
SLV (38/50/12.7%)**
EWZ (17/41/10.7%)
XLE (25/41/10.6%)
KRE (22/39/10.5%)
* -- The first metric is the implied volatility rank or percentile (i.e., where 30-day implied volatility is relative to where it's been over the past 52 weeks); the second, 30-day implied volatility as of Friday close; and the third, what the December at-the-money short straddle is paying as a percentage of stock price.
** -- Neither SLV nor GLD pay a dividend.
BYND analysisBuy levels: over $158.94 and at $155
Resistance levels: $158 and $158.94 and $161
Support levels: $155
Cut loss: Below $155
Earnings date: 11/09
Estimated Move: +2.5789%
Price targets: $161 and $168
Analysis: BYND is trading in a channel up pattern at a crucial support level. Starting a position above that $155 support level is not a bad idea going into earnings monday after hours.. Quick day trade.(More in depth technical analysis in video)
