Beyond Meat, Inc.Panjang
Can you really bet on the stock price based on a LINE ?
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I believe so as I had in my experience been using trend line for a while now. While I can't say it is 100% accurate but the probabilities of winning is higher than my loss.
So when I read this news, I can 100% relate to how he felt. At 23, I too was dabbling in the penny stock markets, going in and out based on rumours, coffeeshop tips , media hype, etc. Some days, I will be lucky to make a few hundred bucks and would gather my friends for lunch and drinks at night. On most losing days, I stayed quietly in one corner and licked my wounds, having to part most of my hard earned salary to pay for these losses. OUCH !!!
I took a look at the chart and realised the following :
1. It shoot up from 25 , the IPO price to 240 in less than 6 months, garnering more than 800% returns to those who got in. Who wouldn't want this kind of godzilla size returns ?
2. After the peak, it plunged down just as hard and fast , evaporating all the profits one had made IF they had not got out of the market fast.
3. It found support at 76 price level and has been hovering at that level from Oct 19 to Jan 20, a sign that it is consolidating and very likely to go up rather than down.
4. Most importantly, it broke out of the bearish trend line as well and with the support, it convinced me that the likelyhood of it going up is higher than going down. So, if I have to take a position , it would be a BUY instead of SELL.
5. Also, I do not dabble in options as I could not understand it and rather stick to products that I am comfortable with.
Lastly, I hope those who are new to trading can really see the simplicity and ease of using trend line. We may not get in the lowest price (catching the bottom) but once the trend is identified (bullish or bearish) and if we catch it , we can ride the trend for a long time and earning the good profits within. That is good enough and not able to catch the top or bottom does not make one a lousy or weak trader! It is good if you acquire the skills but if not, be contented with 80% of the profits, haha.
So when I read this news, I can 100% relate to how he felt. At 23, I too was dabbling in the penny stock markets, going in and out based on rumours, coffeeshop tips , media hype, etc. Some days, I will be lucky to make a few hundred bucks and would gather my friends for lunch and drinks at night. On most losing days, I stayed quietly in one corner and licked my wounds, having to part most of my hard earned salary to pay for these losses. OUCH !!!
I took a look at the chart and realised the following :
1. It shoot up from 25 , the IPO price to 240 in less than 6 months, garnering more than 800% returns to those who got in. Who wouldn't want this kind of godzilla size returns ?
2. After the peak, it plunged down just as hard and fast , evaporating all the profits one had made IF they had not got out of the market fast.
3. It found support at 76 price level and has been hovering at that level from Oct 19 to Jan 20, a sign that it is consolidating and very likely to go up rather than down.
4. Most importantly, it broke out of the bearish trend line as well and with the support, it convinced me that the likelyhood of it going up is higher than going down. So, if I have to take a position , it would be a BUY instead of SELL.
5. Also, I do not dabble in options as I could not understand it and rather stick to products that I am comfortable with.
Lastly, I hope those who are new to trading can really see the simplicity and ease of using trend line. We may not get in the lowest price (catching the bottom) but once the trend is identified (bullish or bearish) and if we catch it , we can ride the trend for a long time and earning the good profits within. That is good enough and not able to catch the top or bottom does not make one a lousy or weak trader! It is good if you acquire the skills but if not, be contented with 80% of the profits, haha.
Nota
I was thinking perhaps this stock could rise further since pork is now scarce due to the swine fever and H5N1 is now in town. That leaves with only beef and mutton. Chicken and Pork are the 2 main meat that the Chinese eat , especially during the CNY. If the adoption for beyond meat can make itself to the restaurants in China, I think we can witness a new revolutionary trend.
Nota
126.10 is the resistance , once it breaks up, it will go higher.
Penafian
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