Classic bullish diamond formation. Should mean that the price will go up, but there's no reason for that to happen other than due to a squeeze which could happen as the stock is at 148% borrow fee at the moment.
On the other hand, BYND's financials are bad and the market may be about to go in bear mode which would instead support the move down.
The correct move here according to technical analysis is that the stock will go up. Having that in mind, one must not forget that technical analysis patterns often do not come to fruition and may even be inversed, so i'm thinking BYND is going to going to $8 first before it ever goes up at all for any reason. Taking the current markets in mind, a move up is not supported by anything oter than maybe covering into a bear market.
TLDR: Price go down.
On the other hand, BYND's financials are bad and the market may be about to go in bear mode which would instead support the move down.
The correct move here according to technical analysis is that the stock will go up. Having that in mind, one must not forget that technical analysis patterns often do not come to fruition and may even be inversed, so i'm thinking BYND is going to going to $8 first before it ever goes up at all for any reason. Taking the current markets in mind, a move up is not supported by anything oter than maybe covering into a bear market.
TLDR: Price go down.