Tyson Foods TSN Herd Mentality Bounce on Bottom Trend Line

30 Kas 2023

Hello Traders,

Here is my chart for Tyson Foods TSN. You can see the price is bouncing around inside a rising wedge and is about to touch the bottom trendline. The RSI is oversold with bull div. I expect a generic herd mentality bounce on the trendline with a target being the top trend line.

Lets see.

30 Kas 2023

Not

On the monthly chart the RSI is approaching oversold levels. It seems logical for a bounce here even if its just a trader/algo bounce.

2 Şub 2024

Not

The price did bounce from the $47.09 level at the start of my chart idea and is up 19%. If the price breaks past the previous LH I expect it to reach the target in the red box which will also be at the top of a potential wave 5, and the price might retrace. Lets see.

9 Kas 2024

İşlem aktif

Hello Traders,

It has been 9 months since I updated this chart idea.

Price still looks bullish. Here is my updated chart idea.

31 Mar

Not

Hello again,

It has been another 4 months and 22 days since my last update. The price looks like it did a bigger ABC correction so have updated my wave count here.

31 Mar

Not

Here is the daily time frame chart. Price looks like its completing 5 impulse waves up into overbought on the RSI. I expect a retrace here down to test the trendline. This also looks like its forming an inverse H+S. Lets see what happens.