Tyson Foods Inc Stock Forecast

Tyson Foods Inc stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on May 02, 2024)

TSN Signals & Forecast

The Tyson Foods Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $60.81 and $58.86. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -0.603%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Thursday, March 07, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Tyson Foods Inc stock

On the downside, the stock finds support just below today's level from accumulated volume at $57.50 and $56.15. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Tyson Foods Inc finds support just below today's level at $57.50. If this is broken, then the next support from accumulated volume will be at $56.15 and $55.39.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.710 between high and low, or 1.17%. For the last week the stock has had daily average volatility of 1.28%.

Our recommended stop-loss: $58.74 (-3.63%) (This stock has low daily movements and this gives low risk. The RSI14 is 77 and this increases the risk substantially. There is a sell signal from a pivot top found 6 days ago.)

Trading Expectations (TSN) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Tyson Foods Inc to open at $60.87, and during the day (based on 14 day Average True Range), to move between $59.96 and $61.94, which gives a possible trading interval of +/-$0.99 (+/-1.63%) up or down from last closing price. If Tyson Foods Inc takes out the full calculated possible swing range there will be an estimated 3.26% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $60.96 (0.02%) than the support at $57.50 (5.66%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Tyson Foods Inc stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Tyson Foods Inc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 4.429 Buy Candidate Upgraded

Predicted Opening Price for Tyson Foods Inc of Friday, May 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.