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Beyond Meat Stock Chart Alert: Topping Tail

Shares of Beyond Meat Inc (BYND) surged in early trading on the back of a wider product offering as shorts quickly scrambled to cover. The stock has reversed after an early surge and may be putting in a major near-term top. This Beyond Meat stock chart alert is telling investors a strong short signal is forming called a topping tail. Topping tails are bearish candlestick formations. They are valid when they show up at multi-month or 52 week highs. In the case of Beyond Meat, this is a multi-month high after the stock has surged from below $60 to over $160. Based on the technical topping tail setup, a strong short can be taken with a downside target of $130.

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