Rising Wedge Support and Hidden Bullish Divergence on MACD |BYND

Nov 2, 2020

BYND has had some volatile movements this year, but generally trending upward. The entire year, BYND has been trading in a beautiful rising wedge. The support trend line has seen three reversals (mid-march, start-april, start-september) and the resistance trend line has seen three reversals as well (mid-jan, mid-jun, mid-oct). After the mid October reversal BYND has lost 28% of its value in a steep decline and has now arrived at the support trend line. If BYND would find support here, a hidden bullish confirmation will occur and BYND will likely reverse to the upside with a 40% growth potential before reaching the resistance trend line.

Please be aware of upcoming earnings at November 9th!

Nov 5, 2020

Trade active

BYND has seen a nice reversal of the support line. Trade is active!

Potential resistance/profit taking level:
* 167.16 - highs of mid jun peak

Nov 11, 2020

Trade closed: stop reached

Earnings blew everything off the table

Nov 11, 2020

Note

If you were holding this stock overnight on earnings-call, you could consider holding on.