TSN is shown here on a 4H Chart. It upended for a month into earnings and then
disappointed with a miss. Following a drop from the miss, it has struggled to
regain its price level. At this point, price has crossed over the POC line on the
volume profile suggesting a preponderance of selling pressure Likewise in confluence
price has crossed over the mean basis line of the Bollinger bands while the RS
indicator shows lines at above the 50 level. I see this as suitable for a long entry
while expecting the price to gradually more up as traders consider whether to take
a position after the retrace from the earnings miss. While this is not in a glamorous or
hot sector, the food industry seems well suited to grind out some profits while
the general market recalibrates and corrects.
disappointed with a miss. Following a drop from the miss, it has struggled to
regain its price level. At this point, price has crossed over the POC line on the
volume profile suggesting a preponderance of selling pressure Likewise in confluence
price has crossed over the mean basis line of the Bollinger bands while the RS
indicator shows lines at above the 50 level. I see this as suitable for a long entry
while expecting the price to gradually more up as traders consider whether to take
a position after the retrace from the earnings miss. While this is not in a glamorous or
hot sector, the food industry seems well suited to grind out some profits while
the general market recalibrates and corrects.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.