TSN (Tyson Foods) is the biggest producer of chicken/pork meat in the US. A triangle is drawn in the daily chart. Given the fact that restaurants are beginning to announce their opening in mid-June, demand for TSN products should increase. As can be seen, on the last report they were strongly sold, but the price did not come out of the growing channel. On the negative side, at the end of May one of their factories was closed due to the coronovirus outbreak. Yesterday the news came out that "Bernstein upgrades to Outperform with $83 PT". Average consolidated estimate of Price target on Yahoo Finance is $69, Koyfin is $68. Yesterday's drop was caused by the U.S. Department of Justice indicting Pilgrim's Pride Corporation (NASDAQ: PPC) CEO Jason Penn, former vice president Roger Austin, Claxton Poultry Farms President Michael Friss and Vice President Scott Brady for allegedly conspiring to set the price of chickens, The Wall Street Journal reported on Wednesday afternoon. (finance.yahoo.com/ne...anies-173713892.html). From my point of view, the paper needs to be monitored. Watch the bidding today and look for an entry point. The first option is to pick up in the area of 57.5 with a stop of $55 with further reduction. 2 option - if you return to the triangle, you would pick it above $61. If stock get confirmation for go out from channel - short will be good.
All ideas only for information.