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TSN rises to highest close since April 4th


Technical Analysis Report for TSN - Apr 16, 2018 [< 1 min read]
Highlights
TSN fails to close above 200-day moving average
TSN closes higher for the 2nd day in a row
TSN pushes through previous session high
TSN rises to highest close since April 4th
TQ Sentiment
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, TSN ended Monday at 71.29 gaining $1.12 (1.6%). Today's closing price of 71.29 marks the highest close since April 4th. Closing above Friday's high at 70.52, the share confirms its breakout through the prior session's high having traded $1.12 above it intraday.

Daily chart for TSN
Volatility

Monday's trading range was $1.31 (1.86%), that's slightly below last trading month's daily average range of $1.56. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly above average.

Support/Resistance

After spiking up to 71.64 during the day, Tyson Foods found resistance at the 200-day moving average at 71.62.

Trend

Although the stock is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.

Order Flow

Selling could accelerate should prices move below the close-by swing low at 69.81 where further sell stops might get triggered. With prices trading close to this year's low at 68.03, downside momentum could speed up should the market break out to new lows for the year. As prices are trading close to April's high at 72.13, upside momentum might accelerate should TSN mark new highs for the month.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being very bullish.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Bearish Bounce off SMA 200 TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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