July 15 Chart of the Day - Tyson Foods

Precision oriented price action technical analysis by far provides the best edges and most setups for traders and investors across the markets so that's what we use for the basis of our reviews

Started as a simple trucking business Tyson Foods (TSN) now is one of the world’s largest producers of chicken, beef, and pork.

Today we'll take a look at their chart from a price action technical analysis perspective and share a unique "pattern" that we discovered and provide guidance how to to best invest and / or trade a chart like this.

We have featured over 220 Charts of the Day during the past year and teach Price Action Trading for FREE  to traders who join our Highly Rated Trade Room.

Monthly Chart 

On the monthly chart we can see that after setting its $100.72 all time high (ATH) back in 2022 price fell dramatically over the next year and a half melting through many potential support levels in "free fall like mode" searching for a  bottom..

The bulls have yet to step in with any lasting conviction.

Of significance to note, is a broadening "mega phone" type chart pattern that has presented itself on this time frame.

Personal experience with these types of pattern recognition reveal that inside the formation price action can become very volatile and appear to move suddenly, randomly, aggressively and often end up where it was in previous months or even years.

Weekly Chart

 
On the weekly chart we can see with much more clarity the dramatic fall from ATHs and where price briefly shot up over $100 then reversed starting a downward cycle.

Interestingly enough, we identified yet another broadening type pattern forming inside of the higher time frame broadening pattern with similar price action characteristics.

Trading around $57.45 today price has been attempting to reverse its downfall by making a series of higher highs and higher lows however we're not yet convinced that is what's going on...

Only time will tell for sure what price will do next...

We've layered in traditional Fibonacci levels as well as support/resistance and trend to help identify potential price levels of interest and/or future price targets.

Armed with precision oriented charts like these both traders and investors can formulate their respective plans.

So what's next?