$BYND Falling Wedge + DivergenceWEEKLY CHART
DAILY CHART
Main Support Lines
$136.38
$57.55
As we can three in the weekly, daily, 1-hour chart of Beyond meat we can see 2 main thing. First the falling wedge and second a regular bullish divergence.
1. Falling Wedge
We can see it clearly in all the charts forming with the 2 main trendlines forming it with the purple colour.
2.Divergence
We can spot the 1st divergence in the daily chart with the blue colour when as price dropping the rsi indicator is rising. The same thing we can see in the 1-hour price chart
SCENARIO
Both the falling wedge and the regular bullish divergence indicates that in sometime the price will break the wedge with breakout, and ultimate go to the support at 136$
BYND trade ideas
General Resistance Channel I'm observing, Can turn to supportDaily Timeframe outlook. Market is showing signs of bullishness (regardless of our own lives). This channel has been around for some time. If it plays in the channel a little longer and breaks above it. Good point for entry especially with retest of 135-136
Buy BEYOND MEAT [NASDAQ: $BYND] | 5.5.2020 | Eric ChoeMy name is Eric Choe.
I am a professional trader with over 7 years of equities and cryptocurrency experience.
I've worked at an energy trading company, a Fortune 500 company, and one of the top management consulting firms in the world.
I left my high-paying salary as a management consultant in early 2018 for a career in investing and trading.
I've been a full-time equities trader ever since.
I give detailed analysis on TradingView.
Over the past 7 years, I've dedicated my time and effort to helping others learn about the financial markets.
All my ideas are for education purposes. There is a high-degree of risks involving leverage trading. Trade at your own risk. This is not financial advice
BYND Spot on after FAST Buy Signal21 April
$$ Spot on. News is out BYND goes China. NASDAQ:BYND
www.marketwatch.com
+Slow Turtle Buy Signal is out. (Bullish)
+FiFT spike giving new energy to the BULL (Bull's Strength)
+ATOM green indicating BULL is trending. (Trend)
+Stochastic bounce from 50. Bull is pretty strong. (Momentum)
Sell half on news
80-85 seems to be a support zone.
Level/Resistance to watch 90, 100, 115.
Trail Stop Loss from 70 to 79.
Fast Turtle Sell will appear if 22 April close below 75
Cautious :- VIX is now Bullish. Fear is back. Apply Hit and Run strategy.
To Infinity... and BYND!Beyond Meat showed promise as a healthy, enjoyable meat alternative prior to the markets crashing, only exacerbated further by the troubles facing the meat industry right now. I anticipate growth to the 140-160 region within the next few weeks, likely with further upside movement in the long run.
Beyond Meat Long TP135Beyond Meat posted better-than-expected earnings for the first quarter Tuesday, but warned that it saw a drop in sales at the end of March as the coronavirus pandemic shuttered restaurants around the country.
The company reported a net income of $1.8 million, or 3 cents per share, compared with a net loss of $6.6 million, or 95 cents per share, a year ago.
The company’s adjusted earnings before interest, taxes, depreciation and amortization was $12.7 million
I am expecting an uprise to $135, afterwards investors will sell their shares. And expecting an increase of the share towards $175.