TSN is poised for a contrarian breakout
Based upon the analysis above in TSN, traders should make sure that their portfolio can handle increased risk from a new trade. Also be sure that TSN adds diversification to your current account. Lastly, good traders note how a new addition relates to not just their portfolio but the rest of the market action as well. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Be sure to coincide your trading actions on TSN in relation to the overall market as well.
Currently the proprietary sentiment levels, analysed by Traders For Wealth, have shown an increasingly negative bias toward TSN. However, the price action in TSN has been moving up in value. This could be a contrarian sign to traders for a potential reversal. Traders should view this as a bullish contrarian trade and make sure it aligns with the market and their portfolio.
Tyson Foods (TSN)
Tyson Foods, Inc. is a food company, which is engaged in offering chicken, beef and pork, as well as prepared foods. The Company offers food products under Tyson, Jimmy Dean, Hillshire Farm, Sara Lee, Ball Park, Wright, Aidells and State Fair brands. The Company operates through four segments: Chicken, Beef, Pork and Prepared Foods. It operates a vertically integrated chicken production process, which consists of breeding stock, contract growers, feed production, processing, further-processing, marketing and transportation of chicken and related allied products, including animal and pet food ingredients. Through its subsidiary, Cobb-Vantress, Inc. (Cobb), the Company is engaged in supplying poultry breeding stock across the world. It produces a range of fresh, frozen and refrigerated food products. Its products are marketed and sold by its sales staff to grocery retailers, grocery wholesalers, meat distributors, warehouse club stores and military commissaries, among others.