So here is an easy ta for Beyond Meat long.
After beginning up-trend from 80 and explosion earnings next step is around 170 mark.
There are three support zones:
110
76
48 ( biggest one from IPO and march low)
Meat supply became a big problem cause of stopping production, so vegan food trend represents an alternative for next month.
On the other side dont forget risks. Closed restaurants and the big question mark around opening economy should not be underestimated.
RSI and MACD shows on weekly and daily chart a little bit overbought. You can wait for join on next correction around 110. Or take a ride on high volume from earnings.
Good luck for your trading. (DONT FORGET TO WATCH SPX)
Any comments are welcome.
After beginning up-trend from 80 and explosion earnings next step is around 170 mark.
There are three support zones:
110
76
48 ( biggest one from IPO and march low)
Meat supply became a big problem cause of stopping production, so vegan food trend represents an alternative for next month.
On the other side dont forget risks. Closed restaurants and the big question mark around opening economy should not be underestimated.
RSI and MACD shows on weekly and daily chart a little bit overbought. You can wait for join on next correction around 110. Or take a ride on high volume from earnings.
Good luck for your trading. (DONT FORGET TO WATCH SPX)
Any comments are welcome.