This morning, leading manufacturer of plant based meat products, Beyond Meat Inc (BYND), is coming under heavy selling pressure. The stock is falling by more than 20% today trading around $117.75 a share. Traders should note, Beyond Meat (BYND) stock has now broken below its important 200-day moving average. This puts the stock in a weak technical position on the charts and often signals lower prices ahead.
The next major support level for Beyond Meat Inc (BYND) stock will be down around the $100.00 level. This is a big whole round number that major institutions will generally defend. It is also a level where the stock broke out in early May 2020. This should be viewed as an added factor for solid support around that $100.00 level when tested.
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