SUMMARY
Tyson Foods (TSN) needs to take a breather and that's called a wave 4. As shown in the below chart, waves 1,2 and 3 are now complete and wave 4 is well into its start. The MACD is quite oversold, so expect a bounce. The subwave counting should be able to qualify these counts.
For now, I've added the simple ABC decline for wave 4 correction. Since equities abide more by the rule of alternation, it's likely that Wave 4 can morph into something more complex because wave 2 was a simple ABC. The blue subwaves for white 3 concur in the labeling. This too would be a good ladder in opportunity to play the bounce; however don't let greed allow you to forget about the coming red C.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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Very nice sir! and thank you for sharing
Interesting topic, THANK YOU for sharing!
I think I will consider it for entertainment purposes since am hardly understanding the whole thing.
Thanks for sharing this, too bad no one can predict the market, we can only pray and hope.
That Legal Disclaimer :D
Additionally, there is a large class-action lawsuit against Tyson for rigging chicken prices filed by lead plaintiffs Winn-Dixie, Sysco and U.S. Foods. While the liberal courts have been pretty kind to restraint-of-trade and monopoly practices as of recently, that's quite a bit of legal muscle power and money suing Tyson, atm.... Anything could happen.