BYND trade ideas
$BYND Looks set to retest $145
$145 is strong mid channel resistance that held strong during previous bullish move.
Wise to take profits close to that level and await breakout.
Fridays news of partnerships with KFC and Pizza Hut were slightly overlooked so maybe we get some continuation today
Short interest remains high 19%
BYND FIB RET. Trend Break A couple weeks ago BYND was in a Bearish triangle and ended up dropping below support. New catalysts are in play now and could mean a Bull run. Let’s see tomorrow if BYND can break the downtrend and hold. If it’s weak tomorrow at open then it could drop to 110s Right now I’m neutral but interested in making some type of play on this stock.
$BYND Shorts still hanging on
Will be looking for long above $146 if market remains strong
otherwise we may have a short opportunity
Stock carries a high 23% short interest which have yet to switch sides.
Beyond Meat, Inc. engages in the provision of plant-based meats. Its products include ready-to-cook meat under the brands The Beyond Burger and Beyond Sausage; and frozen meat namely Beyond Chicken Strips and Beyond Beef Crumbles. The company was founded by Ethan Walden Brown and Brent Taylor in 2009 and is headquartered in El Segundo, CA.
BYND - Bearish Below 145BYND is in a rising channel and showing weakness which will be further confirmed when we see downtrend develop confirming a lower low and lower high. BYND has been trading sideways with weak volume which is customary before a breakout but I would expect a break to the downside in next two trading sessions below 145