$Beyond Meat (BYND.US)$ Beyond meat has been in a consolidat...

$Beyond Meat (BYND.US)$
Beyond meat has been in a consolidating trend since 2019 and is looking more on the bearish side now that it is sitting once again above the 71.30 critical support. If this support breaks, which it does seem likely to, the next critical support will be all the way down at 48.20.

There is an immediate resistance up at 85.30 and another at the 92.50 which happens to be right at the 20SMA for now which is a confluence point. This makes the 92.50 a strong resistance.

Should BYND touch the 71.30 support and hold above it for a few days, this will be a good long set up or entry point to average down as there will be a possibility it rebounds up from here to retest the 71.30 and also 92.50 resistance.

Whether it breaks those points will have to depend on the strength of the rebound and we can only see base on price action when the time comes.

As of now, look out for this various supports and resistance to know your entry and exit points.

Do take some time and watch my video so you can get a broad market view as well and what to be expecting this week and the coming weeks.

As always, trade safe & invest wise!