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Our Downside Targets Met In TSN, KCE

Posted on: Monday, December 17th, 2018

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:

  1. to let Asbury Research subscribers know when to consider taking profits on existing positions,
  2. to let non-subscribers track what we are doing in the market, in real time, and
  3. 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.