Beyond Meat (BYND)

Discussion in 'Stock picks and trading strategies' started by Blaine Tarr, May 29, 2019.

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Is Beyond Meat Overvalued?

Poll closed Jun 5, 2019.
  1. Yes

    0 vote(s)
    0.0%
  2. No

    0 vote(s)
    0.0%
  3. Who cares, trade the price action!

    1 vote(s)
    100.0%
  1. Blaine Tarr

    Blaine Tarr forum leader won penny contest 24x won weekly contest 20x

    Valuation be damned. Trade the price action. I'm watching for a breakout over 92.50 to squeeze shorts into covering higher. I'm long 6/21 calls. The action reminds me of Tilray last year before it squeezed out towards 300. While I don't think BYND will go to 300, 120-150 range is possible if shorts get stuck. Yes, it'll eventually fade off as Tilray did, but for now, don't fight the trend.

    92.50 is aligning both on the daily chart and zoomed in time-frames as well. Keep an eye on it this week.

    BYND 5.29.19 daily.jpg

    BYND 5.29.19 5 minute.jpg
     
  2. Blaine Tarr

    Blaine Tarr forum leader won penny contest 24x won weekly contest 20x

    BYND trying to breakout here.

    BYND breakout.jpg
     
  3. Blaine Tarr

    Blaine Tarr forum leader won penny contest 24x won weekly contest 20x

    BYND awesome breakout into close! 95's up

    BYND 5.29.19 95s.jpg
     
  4. Blaine Tarr

    Blaine Tarr forum leader won penny contest 24x won weekly contest 20x

    I love triangle setups in big range heavily shorted stocks for quick gains as you saw today. $5 move in the last hour. If you didn't cash in, learn from it. Demand > Supply = Price increase. Supply level was 92.50. Breakout confirmed and squeezed out into close. My OTM calls are up 141%

    BYND 5.29.19 97s.jpg

    20190529_140618.jpg
     
  5. Blaine Tarr

    Blaine Tarr forum leader won penny contest 24x won weekly contest 20x

    BYND daily chart setting up again after the initial breakout resistance became support.

    BYND 6.1.19.jpg
     
    Last edited: May 31, 2019
  6. Blaine Tarr

    Blaine Tarr forum leader won penny contest 24x won weekly contest 20x

    BYND 108's up this morning - always remember to lock in some gains and let some run while converting entry price into your stop price. Never let a winner turn into a loser.
     
  7. Blaine Tarr

    Blaine Tarr forum leader won penny contest 24x won weekly contest 20x

    BYND if still holding any, keep in mind earnings are after the close today. Could gap up or down 20 tomorrow depending on how they react to the news. Know the risk if you keep holding. This is why I always lock in profits on the way up. Know the news, trade the action.
     
  8. Blaine Tarr

    Blaine Tarr forum leader won penny contest 24x won weekly contest 20x

    If anyone had patience on BYND calls this was your get rich trade. DAMN, 170's up.

    BYND 6.10.19.jpg
     
  9. Blaine Tarr

    Blaine Tarr forum leader won penny contest 24x won weekly contest 20x

    I started into a few puts this morning in case the top is near. Who knows it could keep going to 300 at this rate, so don't bet the farm. I won't get heavily short biased until we see the uptrend fail. Will add more puts when the timing is better.
     
  10. Blaine Tarr

    Blaine Tarr forum leader won penny contest 24x won weekly contest 20x

    BYND 165 needs to fail for a chance at bigger washout later. We'll see which way it breaks later.

    BYND 5 minute 6.10.19.jpg
     
  11. Blaine Tarr

    Blaine Tarr forum leader won penny contest 24x won weekly contest 20x

    The trend broke to the upside, that's why I say never become too biased on the trade. Always be able to see which way the action is going. If you were short that was your stop area. Because I bought puts and am willing to add, I'm holding for now.
     
  12. Blaine Tarr

    Blaine Tarr forum leader won penny contest 24x won weekly contest 20x

    Consolidation is boring, but it's an important part of a stocks price action as investors digest the move. As traders, its best to be patient during this period and wait for confirmation of trend before deciding to get in too heavy one way or another.

    https://twitter.com/Blaine_Tarr/status/1138126162738073600
     
  13. Blaine Tarr

    Blaine Tarr forum leader won penny contest 24x won weekly contest 20x

    130 next level for another leg down.

    bynd 6.11.19.jpg
     
  14. Blaine Tarr

    Blaine Tarr forum leader won penny contest 24x won weekly contest 20x

    BYND bullish setup now if reclaims 150. I gambled on a few $180 call weeklies in case it does something stupid again tomorrow or Friday.

    I post these charts to twitter first, so if you want to see setups real-time, follow me there.

    BYND 6.12.19.jpg
     
  15. Blaine Tarr

    Blaine Tarr forum leader won penny contest 24x won weekly contest 20x

    Took a few days, but its squeezing out again. Already 186 after hours; which is the next key breakout level. This could go mid 200's now if shorts are stuck.

    BYND 6.17.19.jpg
     
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