Tyson Foods ready to rally again
Sometimes the market brings us very curious opportunities, as is the case with Tyson Foods.
Our code has detected a triple top pattern, which is quite normal, but in May 2024, this pattern appeared at exactly the same prices and on the same stock. To make matters more interesting, in both cases, it combines with a V-shaped trend reversal, which implies a sharp drop in prices that immediately recovers, demonstrating the strength of demand for the stock.
This second opportunity offers returns of between 4% and 7% if the blue resistance is broken, with a risk that sets the stop loss at 2% of the entry level.
This risk-reward ratio is very appealing to traders, especially since it worked last year, returning 15% on the same idea.
Our code has detected a triple top pattern, which is quite normal, but in May 2024, this pattern appeared at exactly the same prices and on the same stock. To make matters more interesting, in both cases, it combines with a V-shaped trend reversal, which implies a sharp drop in prices that immediately recovers, demonstrating the strength of demand for the stock.
This second opportunity offers returns of between 4% and 7% if the blue resistance is broken, with a risk that sets the stop loss at 2% of the entry level.
This risk-reward ratio is very appealing to traders, especially since it worked last year, returning 15% on the same idea.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.