Notice the price action, RSI and MACD levels during the previous time period within the black bars. These moves mimic the recent action in Tyson Foods showing me a strong technical tailwind for Tyson going into 2020 and earnings in Jan.
Looks like Tyson will test the highs in the next Month and should breakthrough.
Fundamentally, news has come out...
It looks like we are going to bounce tomorrow, but will we go higher from there and finish fifth zigzag as on daily chart, or will find strong resistance at 298 area and brake the wedge down,
next two trading days will have to make a decision on the directional bias to hold
Tyson appears to be gearing up for a break-out finally after earnings this coming week from its latest products like plant based chicken nuggets and other similar products appearing to give it a nice boost.
Similar to Luckin Coffee (LK), the stock failed breakouts 4-5 times on different occasions. In this case, just like LK, it appears a breakout is coming...
With all the hype around Beyond Meat meatless burgers. Tyson (TSN) who is a now official competitor on this semi-new (not only for vegetarian) market could be a gainer.
RSI @48 trending higher (could be stronger)
OBV confirming at all time high
We made a head and shoulders (shown on chart), with a positive uptrend on the...