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

By David Diaz

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 $62.08 and $63.28 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.

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.

In the past 52 weeks, shares of Tyson Foods-A have traded between a low of $42.57 and a high of $94.24 and are now at $62.94, which is 48% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 1.9%.

Tyson Foods-A (NYSE:TSN) has potential upside of 27.6% based on a current price of $62.94 and analysts' consensus price target of $80.33. The stock should find initial resistance at its 50-day moving average (MA) of $64.27 and further resistance at its 200-day MA of $80.52.

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: bearish inside day candle tyson foods-a

Ticker(s): TSN