Beyond the moon?
Every 11 months or so beyond meat hits a crucial level.
1) IPOed boomed the stock
2) Covid struck... just 11 months after IPO beyond meat crashed to level not seen since the IPO.
3) The pepsi deal - 11 months after covid struck, beyond meat sipped a tasty deal with pepsi creating a false breakout.
4) Now here we are 11 months after the pepsi deal. The small / mid caps are facing a massive sell off. Do these linear time-frames suggest the bottom is now?
5) In 11 months time, what will the next vertical level been - a high or a low? What ever it is, it'll be crucial.
As bynd faced between their first two vertical supports, a bullish declining wedge appeared - likewise with the current two vertical supports. Over coming the crucial downwards wedge resistance now will be essential for beyond meats success early 2022.
$85 is the support that needs to be broken, then there's a gap to fill at $95 before stumbling upon $150 resistance.
The RSI is yet to overcome its resistance since early June and a breakout of this would be a positive early sign for a breakout and upwards stock movement
The MACD has found support and likely the orange will face resistance at +3.
Have a great Christmas and hope we all have a great trading start to the start of 2022.
See you on the moon.
1) IPOed boomed the stock
2) Covid struck... just 11 months after IPO beyond meat crashed to level not seen since the IPO.
3) The pepsi deal - 11 months after covid struck, beyond meat sipped a tasty deal with pepsi creating a false breakout.
4) Now here we are 11 months after the pepsi deal. The small / mid caps are facing a massive sell off. Do these linear time-frames suggest the bottom is now?
5) In 11 months time, what will the next vertical level been - a high or a low? What ever it is, it'll be crucial.
As bynd faced between their first two vertical supports, a bullish declining wedge appeared - likewise with the current two vertical supports. Over coming the crucial downwards wedge resistance now will be essential for beyond meats success early 2022.
$85 is the support that needs to be broken, then there's a gap to fill at $95 before stumbling upon $150 resistance.
The RSI is yet to overcome its resistance since early June and a breakout of this would be a positive early sign for a breakout and upwards stock movement
The MACD has found support and likely the orange will face resistance at +3.
Have a great Christmas and hope we all have a great trading start to the start of 2022.
See you on the moon.
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