I really like this company. I go in their stores all the time. But, at least in short to mid term - seems like a H&S pattern forming (?) see also on chart: OBVOSC Note RSI, supportive of above In the whole macro, mature 7th to 9th inning equity market....I'm bearish for sure. Long term, I'm bullish on TSCO. They sell stuff people need.
Nice Inverse H&S formation for TSCO, with declining volume on the way down and increasing volume on the breakout confirming the chart pattern. Initial profit taking point can be either at $64.30 or $67. Should the conditions be right, I wouldn't be surprised if bulls tried to take out the gap between $78 - $82 before moving down.
Strong negative RSI divergence and at top of parallel channel. Supported by SMA50, so it needs to break that first, and then properly fill the gap around 190p, which wasn't filled before. Short stop order around 205p TP 190p, perhaps then use SMA50 as stop.
I like Tractor Supply Co for long term, but waiting to buy as head and shoulders plays out. To get my short target I used Bulkowski's method, linked here: thepatternsite.com
They will probably try to head fake all the break out buyers here, so be prepared. Looking for a run above $100.00 if bulls stay in charge in overall markets. This one isn't a clothing fad like BKE. AMZN does not impact this one as it does other retail names. For other plays visit www.StockSpotify.com
Great buying opportunity on TSCO PLC. A double bottom has occurred around the 160.00 area and it has since bounce upwards and broken through the 200.00 psychological resistance number. support of the fast moving average too. target 1 300.00 which is support turned resistance. will evaluate once it reaches target 1