Beyond Meat Inc. Forecast and Stock Analysis
Technical BYND stock analysis for Monday June 24, 2019.
Beyond Meat Inc. fell by -8.53% in the last day ( Monday, 24th Jun 2019 ) from $154.13 to $140.99 and has now fallen 6 days in a row. During day the stock fluctuated 10.65% from a day low at $138.00 to a day high of $152.70. The price has fallen in 7 of the last 10 days and is down by -16.13% for this period. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -1.01 million shares and in total 6.44 million shares bought and sold for approximately $908.31 million.
- 30 day high of the BYND stock price was $201.88 and low was $83.70.
- 90 day high was $201.88 and low was $45.00.
- 52 week high for the Beyond Meat Inc. - $201.88 and low - $45.00.
Beyond Meat Inc. has broken the very wide and strong rising short-term trend down. This signalize a slower rising rate, but may also be an early warning about a possible trend shift. Due to trend being broken there will now be resistance at the bottom line of the trend at $145.52. A reaction back to this level may hold a second chance to get out before further falls.
Beyond Meat Inc. holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $160.13. On a fall, the stock will find some support from the long-term average at approximately $108.77. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Monday June 17, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSI14 is 60 and the stock is currently not being overbought or oversold
Support & Resistance
Beyond Meat Inc. finds support from accumulated volume at $138.65.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $14.70 between high and low, or 10.65%. For the last week, the stock has had a daily average volatility of 11.64%.
Our recommended stoploss: $128.71 (-8.71%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from pivot top found 5 days ago.)
11.64 %Average volatility
Very Low Low Medium High Very High
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term.
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