As we can see on the current candle already, BYND has a strong downward pressure ahead of its earnings today. The SEC just passed the 201 uptick rule for short sale restriction on the stock, further diminishing the supply of borrowed stock, as demand rockets. We expect the stock to rise a bit higher intraday and then to fall heavily downwards after profit-taking...
NASDAQ:BYND
Something I came across that normally would result in the suggested move...
Selling $175 with a move towards the previous pivot LO with possible continuation towards a gap close.
This would capture a nice 15%+ move.
Fundamental analysis
With all the hype around Beyond Meat meatless burgers. Tyson (TSN) who is a now official competitor on this semi-new (not only for vegetarian) market could be a gainer.
Technical analysis
RSI @48 trending higher (could be stronger)
OBV confirming at all time high
We made a head and shoulders (shown on chart), with a positive uptrend...
One of the hottest stock this month at the market is Beyond Meat, which after an initial 1H Channel Up, skyrocketed to 186.00 before heavy speculators took the initial profits yesterday, making the price decline. 1H is approaching the neckline (120.90) of Head. This creates ideal short term buy conditions for a 150.00 target. The MA50 should provide support but...
BYND reported earnings with a wider loss in the first quarter of 2019 due to higher costs and expenses, but outstanding guidance for next year. Even bullish analysts have set price targets below the current market price of $135. JPMorgan is overweight with a $120 price target, Bernstein rates outperform with a $107 price target, Credit Suisse sets a price target...
I saw a post about a beyond meat chart floading around here and i wondered myself: where can bynd go, will it go anywhere? will it be a "bull" riding up until, where ? 100USD ? or will the bears kill it, not so vegan any longer, and drop down or stay in this position?
only time will tell, i made a super fast chart idea with some green and red lines showing...
