TSN recovering from drop and pullback after Earning Miss LONG
TSN is shown here on a 4H Chart. It upended for a month into earnings and then
disappointed with a miss. Following a drop from the miss, it has struggled to
regain its price level. At this point, price has crossed over the POC line on the
volume profile suggesting a preponderance of selling pressure Likewise in confluence
price has crossed over the mean basis line of the Bollinger bands while the RS
indicator shows lines at above the 50 level. I see this as suitable for a long entry
while expecting the price to gradually more up as traders consider whether to take
a position after the retrace from the earnings miss. While this is not in a glamorous or
hot sector, the food industry seems well suited to grind out some profits while
the general market recalibrates and corrects.
disappointed with a miss. Following a drop from the miss, it has struggled to
regain its price level. At this point, price has crossed over the POC line on the
volume profile suggesting a preponderance of selling pressure Likewise in confluence
price has crossed over the mean basis line of the Bollinger bands while the RS
indicator shows lines at above the 50 level. I see this as suitable for a long entry
while expecting the price to gradually more up as traders consider whether to take
a position after the retrace from the earnings miss. While this is not in a glamorous or
hot sector, the food industry seems well suited to grind out some profits while
the general market recalibrates and corrects.
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