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

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Tyson Foods-A (NYSE:TSN) based on the price action in the company's shares. Yesterday's price range of $71.91 and $73.22 is within the prior day'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. Traders and investors interested in shares of Tyson Foods-A may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Potential upside of 13.1% exists for Tyson Foods-A, based on a current level of $71.00 and analysts' average consensus price target of $80.33. The stock should run into initial resistance at its 200-day moving average (MA) of $84.42 and subsequent resistance at its 50-day MA of $85.81.

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 share prices have moved between a 52-week high of $94.24 and a 52-week low of $60.99 and closed yesterday at 16% above that low price at $71.00 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.1% while the 200-day MA has remained constant.

SmarTrend is tracking the current trend status for Tyson Foods-A and will alert subscribers who have TSN in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle tyson foods-a

Ticker(s): TSN