Tyson Foods Inc. has been trading within a large horizontal trading range mostly between $37 (U.S.) and $44 for the past two years (dashed lines). Recent price action (A) has been positive, as it is above the rising 40-week moving average (40wMA) and above a rising trend-line (solid line). A sustained rise above $45 to $46 would signal renewed investor interest and the beginning of a new up-trend. Only a sustained decline below $41 would cancel the current up-side potential. A rise above $45 to $46 would signal Point & Figure targets of $49 and $54.
Monica Rizk is the senior technical analyst and Ron Meisels is the president of Phases & Cycles Inc. and he tweets at @Ronsbriefs. They may hold shares in companies profiled.
Chart source: http://www.decisionplus.com/.