Ok, so I was just looking at this chart because of a news article discussing the "Meatless Revolution" I do not own this stock or have any intention of trading it (yet).
I do see a head and shoulders pattern being defined here. I have added my subjective shoulders, head, and neckline to the chart....remember nothing in TA is every absolute. It's funny as the stock is so new it isn't showing my 200EMA on the daily...so this is, like all opinions, an educated guess.
That is my idea, it's now logged, let's see what the future holds. -Happy Trading.
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Price has formed a "complex head & shoulders" pattern, and now resting on the neckline. Let's see where it goes from here.
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We have broken the H&S neckline to the downside, I see this going further, the close of today is very important to all watching eyes.
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I aim to be correct in my methods and terms, this is a "Complex Head & Shoulders" pattern, when you have more than one shoulder(s), just as an FYI
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Good news for BYND today, McDonalds said they will "test" the "emat" in their restaurants. The stock saw a nice jump today...lets keep watching this stock, I'm still bearish.
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The McDonalds news failed to get most excited. (gap closed quickly) This stock is wildly over-priced and all I keep seeing are more and more competitors entering this market. This neckline has been broken to the downside...nothing too convincing yet, still Bearish.
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It will be interesting to see what happens to the price now. Price has arrived at a "window/gap" these offer support/resistance for traders. I am going to assume it passed through it after a small pullback.
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Gap has quickly closed, I would expect a small up tick and then further downside. I am bearish on this stock, but if a strong reversal pattern arrives, I'll take a small scalp to the upside, getting to breakeven quickly.