TSN caught my eye with a superb earnings surprise on top of excellent earnings growth as well as a partnership to align themselves with a meat substitute manufacturer to stick up to the BYND craze. I like a good steak, but TSN isn't about to turn chicken on the latest fake food fad. They were also forming that classic cup and handle pattern that precedes a big jump up on a high growth company's chart pattern when the people holding on for the last year had to get shaken out of the break even volume point. I'm quickly become a fantastic fowl firm fan, and I think you should consider it, too.
TSN settled into a short rally followed by some short term consolidation between the prior two earnings cycles. Their price has been trending upward since early August with confirmation from DI+ over and rising far above ADX. MACD is exhibiting a similar pattern confirming an earlier breakout after the beginning of August in the opposite direction of the rest of the market right now. Relative strength against the S&P 500 confirms this opposing market direction with relative strength index just peeking at heavy buying but not entirely oversold. The 10 day moving average is rising just behind the daily candles and I believe it will continue to do so with a fair upside. Rate of change and money flow also indicate that this is the point that TSN is breaking out of a sideways channel with a classic Bollinger band squeeze that they've been stuck in since May.
I always like to have a good consumer goods or services or an industrial to pair with my high growth tech stocks to settle the stomach from volatility, and this is a good pick with a sizeable upside in my opinion.
TSN settled into a short rally followed by some short term consolidation between the prior two earnings cycles. Their price has been trending upward since early August with confirmation from DI+ over and rising far above ADX. MACD is exhibiting a similar pattern confirming an earlier breakout after the beginning of August in the opposite direction of the rest of the market right now. Relative strength against the S&P 500 confirms this opposing market direction with relative strength index just peeking at heavy buying but not entirely oversold. The 10 day moving average is rising just behind the daily candles and I believe it will continue to do so with a fair upside. Rate of change and money flow also indicate that this is the point that TSN is breaking out of a sideways channel with a classic Bollinger band squeeze that they've been stuck in since May.
I always like to have a good consumer goods or services or an industrial to pair with my high growth tech stocks to settle the stomach from volatility, and this is a good pick with a sizeable upside in my opinion.