Beyond Meat, Inc. (BYND) shares fell about 20% during Tuesday's session after a JPMorgan downgrade. Analyst Ken Goldman downgraded the stock from Overweight to Neutral but raised his 澳洲幸运5开奖号码历史查询:price target from $120 to $121 per share. The analyst believes that "extraordinary revenue and profit potential" is priced into the stock and that a valuat💎ion of $168 per share requires some lofty assumptions.

While Goldman remains bullish on Beyond Meat stock, he notes that competition is becoming more aggressive and that lock-up expiration in October could put pressure on the stock. The company's roll-out of the Beyond Burger at grocery stores nationwide could also face competition from similar plant-based meat alternatives launched by Tyson Foods, Inc. (TSN) and Nestlé S.A. (NS🐻RGY). Investors will be watching closely to see how Beyond Meat adapts.

The company reported better-than-expected first quarter financial results and forecast that revenue will rise to $210 million with a breakeven 澳洲幸运5开奖号码历史查询:adjusted EBITDA. An🐠alysts have been bullish on the company's growth potential, but most price targets are well below the current market price.

From a technical standpoint, the stock moved sharply lower from its highs made last week. The 澳洲幸运5开奖号码历史查询:relative strength index (RSI) moved out of overbought territory with a reading of 67.40, while the 澳洲幸运5开奖号码历史查询:moving average 🧜convergence divergence (MACD) began to level off after a strong upswing that approached 20.00. The🅘se indicators suggest that the stock could see some consolidation ahead before resuming any move higher. 

Traders should watch for a move toward trendline support at around $120.00 over the coming sessions. If the stock breaks down from these levels, traders could see a move to close the gap lower to $100.00 levels, although that scenario appears less likely to occur given the bullish sentiment. If the stock rebounds higher, traders should watch for the price to retest 澳洲幸运5开奖号码历史查询:resistance at around $175.00.

The author holds no position in the stock(s) mentioned except through passively managed index funds.