Bearish DailyPlay for Thursday April 19th, 2018 – Tyson Foods (TSN)
The bearish DailyPlay we chose for Thursday, April 19th is Tyson Foods (TSN). TSN is part of the Consumer Staples Sector (XLP). Over the last month, XLP has experienced a 0.06% move lower and its 1m and 6m trend have turned bearish yesterday while breaking below its $53 support level which now becomes resistance.
Tyson Food’s 1m and 6m trends turned bearish on 4/3 while breaking below its $73 support level, which now becomes resistance. With a technical score of 5 (out of 10), TSN is a weak stock that will likely trend lower.
As a stop loss, if TSN was to trade above $73 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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