Tyson Foods - first attempt to close the gap unsuccessful after revenue short of analysts' expectations

Taking a look at Tyson Foods as it reported its earnings earlier. Currently, its stock is trading at around $57.22 a share and is up almost 2% on the day. The price did open higher at $58.68 but the company’s revenue came a little short of analysts' expectations, as a result, some profit taking has taken place. Looking at the chart we can see that on the daily timeframe, the stock tried to close the gap, which dates back to May of last year (white oval). However, the mission is yet to be completed. The price is now dipping to test the newly created support, which was acting as the previous key resistance (upper white trendline of the triangle, or respectively, $57.14). If the share price of Tyson manages to consolidate above this support level, then another attempt to close the gap would be likely. The new key resistance here is today’s high of $61.15. A break below $57.14 would see the share price back in the triangle, increasing the likelihood of an extended pullback towards trendline support. Trendline support currently reads $53.79. Over to the technical indicators, the MACD has not turned positive and the RSI reads 69, also positive.