$TSCO has a positive pattern, but a negative monthly candle$TSCO has a positive pattern, but a negative monthly candle.
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TSCO1 trade ideas
TRACTOR SUPPLY COMPANY 1D BATSI 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.
TSCO Inverse Head & Shoulders 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.
Break outThey 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