A bright spot after three rough weeks
Beyond Meat stock: up 1.3% as buyers finally show up
A bright spot after three rough weeks
Our view last week
Beyond Meat brushes its 90-week low and sheds another 5.4%, though the pace is milder than last week's 9.9% drop. In our technical analysis of Beyond Meat stock the picture stays fragile: cash flow slides deeper into distribution territory, sellers still dominate the tape, and price keeps getting turned away at the 20-day moving average and the 7-day high, three clean rejections in the 0.63-0.65 area. The open sell signal remains comfortably in double-digit profit.
This week's summary
In our technical analysis of Beyond Meat stock, after three brutal weeks that dragged it down as much as 9.9%, the stock catches its breath this week and closes up 1.3%: buying volume jumps from 19% to 53% of turnover, the first real bright spot in a month. Cash flow, though, keeps sliding deeper into distribution territory, and price keeps running into firm rejection in the 0.60-0.62 area. Earnings land this week, on August 5: one more risk factor on an already highly volatile name.
IQS Phase
78
in tension
Signal Strength
8
decline losing steam
Sizing
MINIMUM
Ranking
#74 / 138
US stocks
Trade P&L %
+26.10%
from signal to date, no stop loss
Rank position
ranks 74th among the 138 sell signals for US stocks in our ranking, with a signal strength of 8 out of 100.
Sector context
SectorDefensive Staples
Benchmark ETFXLP
Sector regimein positive regime
Performanceweekly +1.09% · monthly +2.10%
BYND belongs to the defensive staples sector (reference ETF XLP). The sector is classified in positive regime according to our weekly reading.
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