BEYOND MEAT is close to a mega bullish break-out.

24 Mar 2023

Beyond Meat (BYND) is below its 1D MA50 (blue trend-line) but unlike the previous break on August 19 2022, it is reversing to re-test it as a Resistance. If successful, it will be the first step towards a major bullish break-out.

The long-term Resistance is the June 30 2021 Lower Highs trend-line, basically the trend-line that started from the most recent peak. At the same time, the price hasn't closed a 1D candle above the 1D MA200 (orange trend-line) since July 02 2021. This is the Resistance Cluster we should be looking for. A closing above those (also the 0.236 Fibonacci level is there) will be the major buy signal on the long-term that will start targeting the Fibonacci retracement levels one by one.


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