BYND, DNUT and NBIS Forecast – Meme Stocks Traders Cause Chaos

BYND Technical Analysis

The Beyond Meat stock just screamed higher for most of the trading session on Wednesday, but on Thursday, we’ve seen a significant drop, and with this, I think we’re going to try to fill this gap. The question, of course, is whether or not we are going to be able to keep up this momentum. This is very dangerous to say the least and therefore speculative at best.

We do get earnings on November 4th, so it’s possible that that could send the market higher, but really, at this point, I think you need to be very cautious. You need to recognize that this is basically a game that’s being played and treated as such. Beyond Meat, of course, has been in a free fall for quite some time. At this point, it’s difficult to get overly bullish unless, of course, you’re just simply day trading.

DNUT Technical Analysis

Krispy Kreme looks like it is going to be a little bit negative here in the early hours. And again, this is the same type of story. They have been pushing this meme stock to the upside, heavily shorted. You can see Krispy Kreme surged 30 % on Wednesday and 21 % in pre-market trading. Retail interest means the Wall Street Bets crowd and a high short interest of 15%. It does look like it’s dropping a bit. We’ll see if they can turn things around for a longer-term move.

NBIS Technical Analysis

Nebius looks like it’s going to bounce a little bit during the pre-market session as we are testing the 50-day EMA. Ultimately, this is an extraordinarily strong market. The question is, will we find our footing in this area? It certainly looks like they’re going to try to push it to the upside. The $108 level above is a short-term barrier based on the highs of the Wednesday session. We’ll see if we can get above there. If we do, it probably attracts more momentum. If we break down from here, there’s a huge gap that could send this market all the way down to the 200-day EMA at $65. So be careful here.

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