The bearish DailyPlay we chose for Thursday, April 19th is Tyson Foods (TSN). TSN is part of the Consumer Staples Sector (XLP). Over the last month, XLP has experienced a 0.06% move lower and its 1m and 6m trend have turned bearish yesterday while breaking below its $53 support level which now becomes resistance.
Tyson Food’s 1m and 6m trends turned bearish on 4/3 while breaking below its $73 support level, which now becomes resistance. With a technical score of 5 (out of 10), TSN is a weak stock that will likely trend lower.
As a stop loss, if TSN was to trade above $73 for multiple days, this would invalidate our analysis and suggest getting out of the trade.