TSN could rise above its resistance level, towards $60

Today’s instrument is the Tyson Foods Inc.‘s traded in NYSE exchange under the ticker TSN.

Looking at the TSN‘s chart, we can see that it is traded around its resistance level at $56.27.

Next week, Tyson Foods is announcing its quarterly earnings and if the market’s anticipation is positive then we should expect its price to rise above the resistance level with the potential to approach the next one at around $60, otherwise it could retreat towards its support level at around $50.