Tyson Foods TSN Herd Mentality Bounce on Bottom Trend Line

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.

Note

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.

Note

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.

Trade active

Hello Traders,

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

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

Note

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.

Note

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.

WickHunter

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