I had a request for an update on the BYND (Beyond Meat) swing trade so I figured I’d share it here in a new post for those that took it. i’m still open to the potential for a much larger rally in BYND if/when the downtrend line is clearly taken out although as of now, my preferred swing target zone remains the primary downtrend line & 15.27-16.60ish resistance zone. Original & updated daily charts below.
BYND daily June 5th
BYND daily June 16th
Zooming down to the intraday time frame, all marked levels on this 60-minute chart are resistance/potential targets for BYND which is still slightly below the swing target zone on the daily chart. While the lowest resistance level was just recently hit, whether or not BYND continues to rally up to any of the additional targets (next target zone 16.41-17.00) may depend on how much longer the stock market holds up although I suspect next week will be a big down week for the major indices so best to raise stops to protect gains on BYND at this point.
BYND 60m June 16th