TSCO breaks below prior session low

Tractor Supply Company (TSCO) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
TSCO breaks below 20-day moving average
TSCO unable to break through key resistance level
TSCO closes lower for the 5th day in a row
TSCO breaks below previous session low
TSCO falls to lowest close since May 31st
TQ Sentiment
Technical Forecast:

Moving lower for the 5th day in a row, TSCO ended Thursday at 74.32 losing $0.90 (-1.2%). Today's closing price of 74.32 marks the lowest close since May 31st. Closing below Wednesday's low at 75.12, Tractor Supply confirms its breakout through the previous session's low having traded $1.66 below it intraday.

Daily chart for TSCO

Thursday's trading range was $2.23 (2.96%), that's far above last trading month's daily average range of $1.33. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being way below average.


Unable to break through the key technical resistance level at 75.47, the share closed below it after spiking as high as 75.69 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.


Though still in a long-term downtrend, the short and medium-term trends both turned bullish already. The market broke below the 20-day moving average at 74.74 today for the first time since April 19th.


While classical technical analysis indicates a slightly bearish sentiment for the next trading day, our quantitative statistics show a different picture being very bullish.

Market Conditions for Tractor Supply Company
Close to R1 Resistance TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Bounced off Technical Resistance R1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Find out what happened when Tractor Supply Company traded like this in the past. See the odds for each technical pattern with expected gain and loss.


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