Today’s instrument is Tyson Foods Inc.‘s stock traded on the NYSE exchange under the ticker TSN.
When we look at the TSN‘s chart, we can see a fall from the $94 level to the $88.5 range on the 4th of May now deemed as support as it managed to climb in the $91 range since then where it consolidated for the remainder of the week. There was a gap up reaching the $95 range during yesterday's session, but there was an immediate retraction back to the $90 range. However, it managed to climb from that $90 level and close strongly at the $92.98 where it was last found trading.
Tyson Foods Inc. had scheduled a quarterly earnings announcement yesterday 09/05/2022. Both EPS and Revenue exceeded expectations, beating the Q1 estimates.
Today we can expect a move close to the $95 range attempting to break the overhead resistance.
If, however, it doesn’t manage to hold on to the current level then a move towards the $90 level can be expected.
(Click on image to enlarge)
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