Tyson Foods Inc Stock Forecast

Tyson Foods Inc stock price up 0.558% on Wednesday
(Updated on Apr 24, 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 $59.78 and $57.82. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, February 13, 2024, and so far it has risen 18.81%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 $1.60 between high and low, or 2.67%. For the last week the stock has had daily average volatility of 1.82%.

Since the Tyson Foods Inc has been rising for 8 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

Our recommended stop-loss: $59.31 (-3.28%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 49 days ago.)

Trading Expectations (TSN) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Tyson Foods Inc to open at $60.97, and during the day (based on 14 day Average True Range), to move between $60.26 and $62.38, which gives a possible trading interval of +/-$1.06 (+/-1.73%) up or down from last closing price. If Tyson Foods Inc takes out the full calculated possible swing range there will be an estimated 3.47% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $57.50, some $3.82 (6.23%) from the current price of $61.32, our system finds the risk reward attractive.

Is Tyson Foods Inc stock A Buy?

Tyson Foods Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Tyson Foods Inc of Thursday, April 25, 2024

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