Beyond Meat: sellers stay firmly in control
Beyond Meat sheds 9.9% as sellers tighten their grip again
Beyond Meat: sellers stay firmly in control
Our view last week
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.
This week's summary
Beyond Meat's sell signal is now in its ninth week of management, and last week's bounce has already been wiped out: this week the stock shed 9.9%, the heaviest drop of the past four weeks, with selling back in near-total control, 97% of volume. The price has broken the old corridor and is sliding toward its 90-week lows; the short is now more than 22% in the money.
IQS Phase
78
in tension
Signal Strength
62
downtrend making lower lows, pace holding
Sizing
STANDARD
Ranking
#47 / 140
US stocks
Trade P&L %
+22.82%
from signal to today
restricted Platinum content