Beyond Meat (BYND) stock consensus forecasts for 2024.

After collecting analyst forecasts for Beyond Meat stock for 2024, we made one consensus forecast. For clarity, we will immediately build a forecast chart for 2024, which will include historical data on Beyond Meat stock prices. The gray color on the chart shows the historical price. The turquoise color shows the price forecast with a possible range of fluctuations.

The maximum share price target for this year is $7.57. This represents upside potential of 18.04% from current levels. The average return per month can be 9.02%.

The lowest price level the stock can fall to this year is $6.2. From the current price, the drop will be 3.42%.

Thus, in the period from the current date until the end of 2024, it is possible to form a channel with a resistance level of $7.57 and a support level of $6.2. The width of this channel is $1.37. According to the theory of technical analysis, a downward breakdown of the channel will open the way to $5. If the resistance level is broken, then the road to $9 per share of Beyond Meat will open.

What is the probability of exiting the channel up? Near the level of the upper border of the channel, the share price will be traded for only 1 month. The chances of breaking through the resistance level in this and subsequent periods are very small. If stocks break through the $7.57 resistance level and try to gain a foothold above it, then in the future they will most likely test this level from above and if the $7.57 mark holds, then this will be a new channel with new goals.

How about testing the strength of the support level? The price will remain near the support level for 1 month. Breaking through the resistance level is unlikely.

In addition, the real future price of one Beyond Meat share can be both higher and lower than the target forecast price, but approximately in the range between the pessimistic and optimistic target price.