Here is my chart for Tyson Foods TSN. You can see the price is bouncing around inside a rising wedge and is about to touch the bottom trendline. The RSI is oversold with bull div. I expect a generic herd mentality bounce on the trendline with a target being the top trend line.
Lets see.
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On the monthly chart the RSI is approaching oversold levels. It seems logical for a bounce here even if its just a trader/algo bounce.
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The price did bounce from the $47.09 level at the start of my chart idea and is up 19%. If the price breaks past the previous LH I expect it to reach the target in the red box which will also be at the top of a potential wave 5, and the price might retrace. Lets see.
Hello, I am assuming the price will bounce to the top trend line around the 140 level.
wackerman
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Man you nailed this... The Feb 2nd post you made on this was near perfection. All that being said where do you see this going? I've been holding TSN for a while now; first looked into it when I saw your original post.