Beyond Meat Breakout Continues
- Beyond Meat is set to benefit from the current breakdown in the traditional meat supply chain and ongoing shortages.
- Technically we have broken out of its downtrend and now managed to hold this breakout for a consecutive days. Price is technically overbought and it's likely to consolidate at these levels. This is noted in Connor's RSI momentum now rolling over.
- We see the up sloping Median line as a logical target - although a big focus will be on the Beyond's ability to grow revenue to justify these levels.
- Overall with a global focus on Climate Change thematic investing and more generally on sustainability, Beyond is well placed to continue a growth trajectory. It has a solid product offering and is gaining traction globally.
- Technically we have broken out of its downtrend and now managed to hold this breakout for a consecutive days. Price is technically overbought and it's likely to consolidate at these levels. This is noted in Connor's RSI momentum now rolling over.
- We see the up sloping Median line as a logical target - although a big focus will be on the Beyond's ability to grow revenue to justify these levels.
- Overall with a global focus on Climate Change thematic investing and more generally on sustainability, Beyond is well placed to continue a growth trajectory. It has a solid product offering and is gaining traction globally.
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