Tyson Foods, Inc. (TSN) Meets Our $54.00 Downside Target
In our December 4th Asbury Alert, entitled Tyson Foods, Inc. (TSN): Resuming Late 2017 Decline (access requires subscription), we pointed out the retest of a November 13th breakdown from months of sideways investor indecision that targeted an additional 8% decline to $54.00 per share.
Here is the chart from that report.
TSN: May 2018 to December 4th
This updated chart shows that our 54.00 downside target was met earlier today.
TSN: May 2018 to December 17th
SPDR KBW Capital Markets ETF (KCE) Meets Our $48.50 Downside Target
In our December 10th Keys To This Week report, we pointed out a breakdown from about 6 weeks of sideways investor indecision in KCE, which represents the capital markets segment of the S&P Total Market Index (“S&P TMI”) and tracks the performance of publicly traded companies that do business as broker-dealers, asset managers, trust and custody banks or exchanges.
We said this breakdown indicated its larger August 2nd downtrend was resuming and targeted an additional 3% decline to $48.50.
KCE: June 2018 to December 17th
The chart above shows that our 48.50 target was met earlier today.
We publish these notifications for 3 reasons:
- to let Asbury Research subscribers know when to consider taking profits on existing positions,
- to let non-subscribers track what we are doing in the market, in real time, and
- to make everyone aware of a potential upcoming price reversal as price advances often end as upside targets are met and more savvy investors take profits.
