My first try looking for a wave count fail by a wide margin which was around the $74 price level. Retail participants don’t care about any value they just don’t want to be left behind.
If you owned BYND then you only had a 1-2 day window to unload! Selling into the spike is the best but if you see the spike or not, all depends on how you manipulate your charts.
I think this chart is heading into a bear market as a major price peak is already in by late Friday. We have a large gap open below present prices which I think will get filled at the $100 price level.
Bear market rallies retrace themselves and we have to wait and see if BYND falls below its IPO price.
The spike high was around the $185 but the charts only quote $150. At best the $60-$70 price level may produce some support but solar cycle 24 could be pulling Beyond Meat down as well.
Back in May, I took a Gold/BYND ratio reading which was about 18:1 with the recent ratio reading of only 7.44:1.