Tyson Foods slips after quarterly

Tyson Foods slips after quarterly

(Finance) – Seat down for TS extensionwhich shows a decrease of 2.71%.

The Springdale, Arkansas-based food group disclosed fourth-quarter results that came in light to dark. In the period, the US multinational reported net profit more than halved from 1.36 billion, equal to 3.71 dollars per share, to 538 million, (1.50 dollars). On an adjusted basis theEPS it came in at $1.63 lower than the $1.72 analyst estimates. In the three months i revenues they grew by 7.2% to 13.74 billion dollars, in this case exceeding the 13.49 billion expected by the market. As for theoutlook for fiscal 2023, Tyson expects revenues of between $55 billion and $57 billion, above the consensus $53.6 billion.

The trend of TS extension in the week, compared toS&P-500notes a lower relative strength of the stock, which could fall prey to sellers ready to take advantage of potential weaknesses.

The trend of short of TS extension is strengthening with a resistance area seen at USD 65.96, while the most immediate support can be seen at 65.4. A continuation of the upward trend towards 66.52 is expected.