TSN is at a bounce or break moment. It is sitting on an uptrending support line (green). If it bounces there are a couple of resistance levels on the way back up to all time highs. If it breaks down below this line, there is a long way for it to fall before hitting any real (solid blue) support. There are a few weaker (thin blue) support levels on the way down.
Stock has had a considerable selloff, which could be said is unwarranted in times of food shortages as Australia and China suffer livestock declines.
Stock is approaching multiple levels of support.
Indicators are bottoming and oversold.
Tyson have been around for years, they were once involved with BYND, but have cut ties and are now producing their own fake meat products.
I see an ascending triangle, a bounce from the 200MA and a 9 on the Demark H4 indicator.
Fib extesion shows the golden fib at a nice round 100
Stop just below last bounce at 86
Good steady momentum. Might be worth a watch especially in uncertain times.
Tyson Foods, Inc. is a food company, which is engaged in offering chicken, beef and pork, as well as prepared foods. The Company offers food products under Tyson, Jimmy Dean, Hillshire Farm, Sara Lee, Ball Park, Wright, Aidells and State Fair brands. The Company operates through four...
Hello team,
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...
These 3 companies were among the 172 facilities that China authorized poultry imports on Friday, yet all 3 were down. Thinking maybe the names didn't come out during trading hours perhaps?
This is to see for myself how the China news will effect certain industries for future "progress".
Tyson recently had a small pullback as shown in that descending channel on the chart. The price managed to find support on the 50-day EMA before breaking out of the channel due to their earnings report.
The price targets are the $105.60 & $123.00 price levels.
And this is why playing ER is simply a gamble, they can say (or not say) what they want to get a certain reaction.
(check out my last post on it below and then...) ***Lets talk about it!***
Price Action consolidating around 85.
Lower BB%
RSI <10
Looking for Reversal to mean higher.
Taking 85 /82.50 Put Credit Spread.
Also picked up 87 Call for Directional Bias Higher.
Oct Exp but aiming to Close in profit well before that...
Good Luck - Watch your $$$ RISK
TSN caught my eye with a superb earnings surprise on top of excellent earnings growth as well as a partnership to align themselves with a meat substitute manufacturer to stick up to the BYND craze. I like a good steak, but TSN isn't about to turn chicken on the latest fake food fad. They were also forming that classic cup and handle pattern that precedes a big...
