After Yesterday's Rally of 1.35% Shares Could Potentially Pullback
Tyson Foods (NYSE:TSN) traded in a range yesterday that spanned from a low of $61.50 to a high of $62.56. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $62.06 on volume of 1.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, shares of Tyson Foods have traded between a low of $39.05 and a high of $70.44 and are now at $62.15, which is 59% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.9% while the 50-day MA has advanced 0.3%.
SmarTrend recommended that its subscribers protect gains by selling shares of Tyson Foods on June 2nd, 2016 by issuing a Downtrend alert when the shares were trading at $63.45. Since that call, shares of Tyson Foods have fallen 3.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: rebounders Tyson Foods