BYND (Beyond Meat Inc) offers an objective long entry for a move up to the minor downtrend line/97.80ish resistance level & possibly “beyond” with a stop of 82.59 & will be added as an official Active Long Swing Trade around current levels.
BYND daily Oct 30th
The sole price target at this time is 97.79 with the potential for additional targets to be added. This is a fairly aggressive, catch-a-falling-knife trade with the assumption that BYND experienced a selling climax earlier this week following their earnings report. If so, the initial thrust up is likely to be relatively swift as it will be exacerbated by short-covering + value investors stepping in (from what I glanced, their earnings report was pretty solid but again, I only glanced a headline so DYODD).
The suggested stop is any move below 82.60 (i.e.- any print of 82.59 or below) with a suggested beta-adjusted position size of 0.90.