TRACTOR SUPPLY COMPANY (TSCO) Stock Technical Analysis
NASDAQ:TSCO - Nasdaq - US8923561067 - Common Stock - Currency: USD
We assign a technical rating of 8 out of 10 to TSCO. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, TSCO is only an average performer.
TSCO has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 60.67. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 59.00, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
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When analyzing the support we can see 6 important areas.
- A support zone ranging from 56.94 to 59.00. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @53.10 from a horizontal line in the daily time frame.
- Support @51.93 from a horizontal line in the daily time frame.
- Support @49.84 from a trend line in the weekly time frame.
- Support @48.98 from a horizontal line in the weekly time frame.
- Support @48.02 from a horizontal line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 60.67 to 60.75. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for TSCO is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for TSCO is up. |
| ChartMill Relative Strength | 72.8 | POSITIVE | TSCO has a high relative strength, it outperformed 72.8% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of TSCO is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of TSCO is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of TSCO is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 58.87 | NEUTRAL | The RSI value for TSCO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.11 | NEGATIVE | The MACD value suggests TSCO has a negative trend. |
| Stochastics (14,3) | 45.57 | NEUTRAL | The Stochastics value for TSCO is a neutral value. |
| Average True Range in percent/ATR (20) | 2.8 | MEDIUM VOLATILITY | The ATR as a percentage value for TSCO suggests some volalility. |
| Average Directional Index/ADX (14) | 39.38 | POSITIVE | The high ADX value value for TSCO suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 60.76 | 56.93 | 3.83 (6.30%) | 15.86% |
| An entry @60.76. This is a Buy Stop order right above the resistance zone. | An exit @56.93. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 3.83 points, which is 6.30%. | For a 1.00% total portfolio risk, you can invest 15.86% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
59.3
-0.23 (-0.39%)