Beyond Meat's bounce is already gone
Beyond Meat falls 7.6%, testing support in the 0.65 area again
Beyond Meat's bounce is already gone
Our view last week
Beyond Meat is in its seventh week of a sell signal, and the week just closed up 7.7%, the widest bounce of the last four. Sell volume still dominates, 69% versus 31%, and momentum has turned negative again after three weeks of holding steady. A bounce inside a decline that has not yet changed direction.
This week's summary
Last week's 7.7% bounce has already been erased: this week Beyond Meat gave back 7.6%, with selling in near-total control, 98% of volume. The stock stays boxed into a very tight corridor, between support in the 0.65 area — held four times — and resistance in the 0.7 area, rejected three times, just as firmly. The sell signal has been under management for eight weeks, and the short is already more than 14% in the money.
IQS Phase
78
in tension
Signal Strength
29
decline starting to make lower lows
Sizing
MINIMUM
Ranking
#43 / 137
US stocks
Trade P&L %
+14.35%
from signal to today
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