Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>BYND stock price fell approximately 19% in September 2023.</a> </li> 
 <li> <span>2</span> <a>Beyond Meat stock price hit a 52-week low in the previous session.</a> </li> 
 <li> <span>3</span> <a>Beyond Meat Inc. stock price is in a strong downtrend.</a> </li> 
</ul> 
<p>Beyond Meat Inc. BYND stock price fell 19% in the current month and hit a new 52-week low at $9.41. It continued the downfall by forming lower low swings and eroded a big portion of its market capitalization.&nbsp;</p> 
<p>Beyond Meat stock price broke down the crucial support of $10.00 which raised concern for its investors. However, it will be interesting to see whether the buyers are able to give the bounce in the coming sessions or not. It will decide the reliability of the breakdown.&nbsp;</p> 
<p>BYND stock price is trading below the downward-sloping 50-day and 200-day EMA. It showcases that the BYND share price is in a downtrend.&nbsp;</p> 
<p>On August 7, 2023, Beyond Meat Inc. released last quarter’s earnings. The company failed to meet the revenue estimates by 6.07%. Due to this, the stock price reacted negatively and collapsed 14% in a single day.&nbsp;</p> 
<p>Later, gradually the selloff continued and eroded the completed gains generated in June and July. Currently, the BYND <a href="https://www.thecoinrepublic.com/2023/08/25/bynd-stock-in-trouble-will-beyond-share-price-sink-below-10/" target="_blank" rel="noreferrer noopener">stock price </a>is inside the bears’ grip and no signs of rebound are visible.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-will-bynd-stock-price-regain-10-in-october-strong"><strong>Will BYND Stock Price Regain $10 in October?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="434" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-717-1024x434.png" alt="BYND Stock Below $10; Beyond Meat Stock Hit New Low; What Next?" class="wp-image-170548" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-717-1024x434.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-717-300x127.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-717-768x325.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-717-1536x651.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-717-750x318.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-717-1140x483.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-717.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   NASDAQ: BYND daily chart by <a href="https://www.tradingview.com/x/Rhz5QTNc/">TradingView</a>
  </figcaption>
 </figure>
</div> 
<p>BYND stock price formed a highly bearish pattern and displayed the presence of sellers on the higher levels.&nbsp;</p> 
<p>Any short-term bounce toward $12.00 and $13.00 may face difficulty in sustaining in the supply zone. Therefore, investors should wait for clear signs of reversal before creating any bullish positions.&nbsp;</p> 
<p>Beyond Meat stock closed the previous session at $9.56 with an intraday decline of -3.04%. Recently, it broke the $10.00 level so sellers are highly active and continuing their dominance.&nbsp;</p> 
<p>Till <a href="https://www.thecoinrepublic.com/2023/08/25/bynd-stock-in-trouble-will-beyond-share-price-sink-below-10/" target="_blank" rel="noreferrer noopener">BYND share price</a> is trading below $13.43, any minor bounce might get sold off. So, it’s better to avoid investing in BYND at current levels.</p> 
<h3 class="wp-block-heading" id="strong-beyond-meat-stock-price-in-correction-phase-strong"><strong>Beyond Meat Stock Price in Correction Phase&nbsp;</strong></h3>  
<div class="tradingview-widget-container"> 
 <div id="tradingview_e0030"></div> 
 <div class="tradingview-widget-copyright">
  <a href="https://www.tradingview.com/" rel="noopener nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a>
 </div> 
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> 
 <script type="text/javascript">
  new TradingView.widget(
  {
  "width": 950,
  "height": 500,
  "symbol": "NASDAQ:BYND",
  "interval": "D",
  "timezone": "Etc/UTC",
  "theme": "light",
  "style": "1",
  "locale": "en",
  "enable_publishing": true,
  "allow_symbol_change": true,
  "studies": [
    "STD;Supertrend"
  ],
  "container_id": "tradingview_e0030"
}
  );
  </script> 
</div>  
<p>Beyond Meat stock price is in a correction phase and formed a bearish pattern on multiple time frames. However, the stock price looks oversold so a narrow range consolidation is required to halt the downfall.&nbsp;</p> 
<p>Moreover, it has corrected a lot from its recent swing high so short sellers must be careful of a squeeze.&nbsp;</p> 
<p>The MACD curve is below the zero line and sloping sideways indicating price might consolidate for some time. The RSI at 25 denotes highly oversold territory which increases the chances of a short squeeze.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Beyond Meat Inc. BYND stock price fell 19% in September and eroded a big portion of its market capitalization. The price pattern of the stock is highly bearish so the possibility of a sharp reversal remains low.&nbsp;</p> 
<p>The analysis suggests that Beyond Meat stock price is oversold and will soon enter in a narrow-range consolidation.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li>Resistance levels: $12.00 and $13.43</li> 
 <li>Support levels: $9.00 and $8.00</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

BYND Stock Below $10; Beyond Meat Stock Hit New Low; What Next?

목차

Thecoinrepublic.com

2023년 9월 23일에 게재된 다른 기사

Unity Apologizes to Devs

Copyright Dispute Escalates as New York Times Considers Legal Action Against OpenAI

Polkadot Unveils Bold Parachain Plans: A Turning Point for DOT?

PSG soccer club, Drop CEO collaborate on AI-generated NFT posters

NEXO Price Prediction: Will NEXO Crypto Reach $1.00 in 2024?

Running a Light Client like Geth on Ethereum for Developers

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!