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BYND - Double leg

Beyond Meat, Inc. (NASDAQ:BYND)  
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NASDAQ:BYND   Beyond Meat, Inc.
Trend Analysis
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trendanalysis
Twin 0.382 retracement.

Price decreasing on falling volume (7 october).RSI underbought at $169.

Could be preparing for a double leg to $240 region.

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Komen:
The initial run from 19th March to 17th June lasted 90 days and constituted $119.92.

If we were to think of this as a larger leg and replicate it from the following bottom starting 14th September... the second identical larger leg would lead to a price target of $242-$244 in late november/early december. Almost identical price target and timing of the smaller second leg starting at $169.

Timeframes are often flexible but this further indicates towards an initial price target in the $240 region.

BYND may be replicating its original run from 19th March to 17th of June. Approximately halfway through the run BYND saw a retracement of 0.382 (4th May) before completing the second half of the run. With a price target of $244 it has again retraced 0.382 after half its second run.

I cant draw on the charts anymore but test it out yourself.
Komen:
following bottom starting ★4th September..not 14th
Penafian

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