Beyond Meat Inc. shares are trading higher on continued momentum after the company announced the debut of Beyond Fried Chicken. KFC restaurants across the United States will offer Beyond Fried Chicken for a limited time, while supplies last.
Beyond Meat Daily Chart Analysis
Shares have fallen below the support line in what traders call a sideways channel pattern. Support was found near the $120 level, but may become a level of resistance as the stock fell below the level and has been in a freefall.The stock trades below both the 50-day moving average (green) and the 200-day moving average (blue). This indicates bearish sentiment, and each of these moving averages may hold as an area of resistance in the future.
