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During March, BYND price broke below 71.91 and thus Primary 2 (P2) continued lower dropping to 48.18, but holding above the start of Primary 1 (P1) at 45.00.
Since the P2 low at 48.18, there are clearly 5 waves up to 127.84 for major [1] of Primary 3 (P3). Major [1] could be over at 127.84 or could extend to the 135.23 pivot area (where minor 5 =1.62*minor 1 target at 137.79), before the major [2] pull-back to the 100 area.
Looks like the major [2]-P3 low may be in place 102.43, which is right at the 50% Fibonacci target of 103.57. The major [3]-P3 wave up should lead to new all-time highs above 239.71
Back on November 11th, 2019 with BYND trading near $76, I showed a 4-hr chart indicating that there was a bullish falling wedge that was likely bottoming near $70.85. The low was $71.91. Now here we are in mid-day January 2020 and BYND has rallied to $135.23.
BYND price initially made a 5-wave move up from the IPO price of $25 to a high of $239.71; possible Primary 1 (P1) wave.
BYND price next a made 3-wave move down from $239.71 to $73.38; possible Primary 2 (P2) wave, where major [C]=[A]=70.85 and the 78% Fibonacci retracement of 72.24.
Primary 3 (P3) wave target is at 1.62*P1 = $420.
BYND 4-Hour Chart:
Posted in BYND | Comments Off on November 12th, 2019: BYND 4-Hour Chart
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