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Possible Bearish Inside Day Candle Pattern Detected for Tyson Foods-A (NYSE:TSN)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Tyson Foods-A (NYSE:TSN) based on the price action in the company's shares. Today's price range of $89.00 and $90.35 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Tyson Foods-A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Tyson Foods-A share prices have been bracketed by a low of $49.77 and a high of $91.73 and are now at $90.28, 81% above that low price. The 200-day and 50-day moving averages have moved 0.80% higher and 0.68% higher over the past week, respectively.

Tyson Foods, Inc. produces, distributes, and markets chicken, beef, pork, prepared foods, and related allied products. The Company's products are marketed and sold to national and regional grocery retailers, regional grocery wholesalers, meat distributors, warehouse club stores, military commissaries, and industrial food processing companies.

Tyson Foods-A (NYSE:TSN) is currently priced 11.0% above its average consensus analyst price target of $80.33. The stock should find initial support at its 50-day moving average (MA) of $82.59 and further support at its 200-day MA of $69.86.

SmarTrend recommended that subscribers consider buying shares of Tyson Foods-A on July 3rd, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $81.86. Since that recommendation, shares of Tyson Foods-A have risen 12.0%. We continue to monitor TSN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle tyson foods-a

Ticker(s): TSN