Beyond Meat Price Prediction for 2020

It’s always interesting seeing what companies in emerging markets do in terms fo stock prices after a successful launch. Beyond Meat’s stock price surged shortly after it’s IPO, thanks in part to a huge movement towards plant-based proteins in society.  I’ve seen Beyond Meat just about everywhere, and not just in vegan-focused health food stores.  They have the Beyond Burger at BurgerFi, and it’s even something you can buy at Whole Foods.

While you salivate at the thought of a burger, here’s The Right Trader’s take on the Beyond Meat stock price for 2020.  If you’ve seen my past updates, you know that this YouTube Channel is one of my favorite follows.  If you enjoy these types of updates, I urge you to check out past updates I posted here:

• Penny Stocks to buy in 2020.
• Dividend Stocks that pay monthly.

What Will Beyond Meat’s Stock Do in 2020?

Matthew: Hey, what’s going on everyone? Matthew from therighttrader.com, back again with another stock analysis and price prediction video. Today it’s going to be on Beyond Meat for 2020. Never thought I would be covering this stock, but here it is. It is somewhat of a popular stock and there I say even a bit of a hype stock. I’m not even sure how you would really categorize a stock like this, but it is a company that is working on plant-based meats and a lot of people think that that might be the future. It’s gone some pretty crazy ups and downs and some controversies, but we’re going to be taking a look at the chart today, going over everything, what it might be doing in 2020 as well, of course. Don’t forget to check out my other stock price prediction videos. I’ll leave a link to the playlist in the description of this video. Make sure to check that out if you’re interested and let me know any other stocks or cryptocurrencies that you would like me to cover.

Now let’s head right over to the chart here. It had a initial since it IPOd not that long ago. It IPOd back in may of 2019, had a initial very quick rise and then peaked at $240, ended up stabilizing for a bit around 160, and then fell lower, and now we’re starting to see a bit of a recovery, which is interesting. If we go ahead and draw that pattern out, what we’re gonna find is we had a head and shoulders pattern, which is bearish. If we go ahead and pull that up, pull a picture up, it’s this pattern right here where we have left shoulder, head and right shoulder, and then our move lower. Going back to the Beyond Meat chart, you can see this pattern very clearly as well, where we broke lower.

The reason why I’m pointing this out because it is in the past, is now we had our drop, so that is out of the way. Not to say that we can’t of course drop again, but as far as that pattern is concerned, that’s out of the way. We don’t have to worry about that anymore. That pattern has been completed. We fully had our pullback. In fact, we pulled back towards around $70 to $75. That was our stabilization area. I don’t really see us going to that low again, to be honest, I don’t really see us moving back below $100 here. I believe all the patterns have been completed as far as the pullback is concerned. In fact, we had a gap over here that we now closed on the move higher. This is your typical U shaped cup and handle pattern right here where we have a drop, flatten out and then move higher again.

I’m going to delete that just for the sake of clarity, but if I zoom in a bit, what you’re going to find right now is of course, an uptrend line, and we are back above all of our moving averages. We’re back above the 10 day, 50 day and 200 and 100 day as well. All those moving averages are starting to turn back up, especially that 50 day moving average. What that means is stronger uptrend. That’s the goal and that’s usually what happens with that type of formation. Moreover, I do want to point out that we do have a little bit of a bullish divergence as well as we actually started up trending before we actually started moving higher on the price. Now that pattern has somewhat completed and it’s just a regular uptrend, but still something that I wanted to point out. Of course, we’re doing pretty good here on the MACD, although we did pull back a bit, I think that we might flip back into the green.

Now for looking ahead in 2020, where should we be heading? Of course, this is just my personal opinion and not financial advice, but I do think we’re moving higher. I wanted to point out however that I have mixed feelings about Beyond Meat as a stock. Personally, every time I tried to trade it, usually with options, I ended up losing money on it and I’ve heard very similar stories from a lot of people, whether it was trading the stocks or the options. It’s a very volatile stock and a lot of people got burned, so something to keep in mind. Personally, I don’t think I would go back and start trading the stock, but that’s just me. Just something to keep in mind that it is a stock that I’ve seen a lot of people actually lose money on.

Now I’ll also draw this trend line right here because we do have a symmetrical triangle formation, although we’re reaching the end of that very soon, so we’re either going to break lower or higher. Like I said, to be quite honest, I really see us moving higher. It is possible that we would move flat, but somewhat unlikely. The most likely scenario is that we get a bit of a break higher. In fact, if we could get back above $135, that would pretty much confirm a move back to the $150 area. and that’s really what I’m seeing happening in the next three months, maybe six months at the most. After that, we’ll really be back to a similar range as we were back during its highs. Of course its actual all time high was 240 and can we get back above $200 in 2020? Definitely possible. Definitely a very fair chance at that. We’ll have to see how things pan out at around $150 because I think undoubtedly we’re going to get some stabilization and some up and downs in between that $150 area, but that’s not to say that we might not see a move that actually moves above $200 where we would maybe make new all time highs or test the previous highs. Absolutely possible, but initially for the next three to six months out would expect a move above 135, so probably going to start pushing out $150 area and definitely could see a move above $200 as well in 2020.

With that being said, this completes the end of this video. Thank you so much for watching. Make sure you leave a like and subscribe if you haven’t already. Don’t forget to check out my other stock price prediction videos playlist in the description and also my Technical Analysis Master Course. It’s the ultimate guides to technical analysis. The reviews keep getting better and better, right now I have 4.1 stars. It’s less than $20, comes with a 30 day money back guarantee. You literally have nothing to lose by giving it a try. You will learn how to spot buying and selling opportunities, how to spot trends, how to read candlesticks and advanced trading indicators. That’s what this course is here for. On top of that, like I said, 30 day money back guarantee. It’s the ultimate guide. Don’t forget to follow me on Twitter as well. Thanks for watching everyone and have a great day.

(End of Audio)

This is the type of audio transcripts I like to post on my retirement investing website. I feel that armed with knowledge, we can make smarter decisions with funds we have set aside for our golden years.  Beyond Meat’s stock price has really been one many people have been following closely in 2020, with the trend towards plant-based diets becoming one that many people are hopping aboard.  Will the trend continue?  Only time will tell, but you can count on me following the news and letting you know what the next hot stick tips are.