Tyson Foods (TSN) looks ready to serve up a big rally once it breaks out on the upside (chart below).
TSN has traded sideways between $35 and $45 since early 2014. This 20-month consolidation pattern has the potential for an upside breakout. This anticipated breakout could propel TSN initially to $55, taking the $10 height of the consolidation pattern and adding it to the breakout point of $45.
The Point and Figure chart of TSN, see below, also confirms the $55 target.
A $10 rally after such a long congestion phase is sort of disappointing, but the longer-term picture of TSN points to a $75 target taking the $30 rally before the congestion ($15 to $45) and projecting that move to the breakout point.
Hungry for investment profits?