BYND trade ideas
BYND 8/24 to 9/4 Trading PlanBYND looks like it has been consolidating in between the 120-130 range again like it was back in July. Breaking above 130 and we'll see it push higher.
Resistance
Watch 135 minor resistance to continue higher to 142.
Support
On the downside breaking under 120 and we'll see a pullback down to 115's
Head and ShouldersDouble check me on this one
Short entry with this pattern would be when price closes below neckline in a strong downtrend
This pattern can be long in the making and you can have some relief rallies up from time to time.
I don't do the short thing, but if I did I would place my stop above 131.45
My targets would be: 91 to 83
T2: 61
Not a recommendation
Beyond Meat - H&S or Falling Wedge?Just an Idea. Do not trade based on my Analysis. You've been warned.
For BYND there are two Possibilities, either it will break down or up. There are two patterns, a Head & Shoulders which is Bearish and also a Falling Wedge which is Bullish. Both pattern are not confirmed yet and also not invalidated, trade the Breakout, wait for Conformation.
Head & Shoulders
www.dailyfx.com
Falling Wedge
www.dailyfx.com
BYND Beyond Meat is slowly making its way the buy zone. After the price reaches the box labeled "bounce zone" at around $100 which is wave 2 down. This will be the last time in a long time that the price will be in this region. Expect a powerful wave three for a price to rise to the $500's. There are some fundamental reasons that this stock should continue to rise as well but I don't trade on fundamentals. All the best.
OPENING: BYND AUGUST 21ST 110/185 SHORT STRANGLE... for a 4.18 credit.
Notes: Defined in the smaller, naked in the bigger.
Defined risk alternatives:
September 18th 105/115/180/190 iron condor, paying 3.51 (i.e., > 1/3rd the width of the wings) at the mid price as of the writing of this post. Some price discovery may be required on the four-legged, as it's bid 3.16/mid 3.51/ask 3.91, which isn't the tightest thing in the world.