Beyond Meat bounces, ADX marks a sixth week of decline
Beyond Meat stock rebounds 9.7% as the ADX marks a sixth week of decline
Our view last week
Beyond Meat's decline changes gear. After last week's 5% drop, Beyond Meat stock sheds another 16.5% this week, the sharpest weekly loss of the past month, with sellers still running the volume. Yet the weekly ADX keeps falling, a sign the trend is losing conviction just as the price accelerates lower. The sell signal, live for 12 weeks now, keeps the short above 41% in the money.
This week's summary
Beyond Meat's decline takes a breather: after two straight down weeks, Beyond Meat stock rebounds 9.7%, with buyers back in control of 85% of the volume. But the bounce stands on shaky legs — the weekly ADX has been falling for six weeks straight, and the daily chart still traces a sequence of lower highs, from the 19 area down to 14. The sell signal, under management for 14 weeks now, still sits above 35% in the money.
IQS Phase
71
in tension
Signal Strength
37
decline losing steam
Sizing
REDUCED
Ranking
#37 / 93
US stocks
Trade P&L %
+35.72%
from signal to date, no stop loss
Rank position
ranks 37th among the 93 sell signals for US stocks in our ranking, with a signal strength of 37 out of 100.
Sector context
SectorDefensive Staples
Benchmark ETFXLP
Sector regimein strong phase
Performanceweekly -0.12% · monthly +1.91%
BYND belongs to the defensive staples sector (reference ETF XLP). The sector is classified in strong phase according to our weekly reading.
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