TSCO pushes through key resistance level

Tractor Supply Company (TSCO) Technical Analysis Report for Jul 13, 2018

Highlights

TSCO pushes through key resistance level
TSCO finds buyers again around 77.22
TSCO pushes through previous session high
TSCO rises to highest close since January 29th

TQ Sentiment

Report Sentiment:
75% Bullish
Technical Forecast:
TQ Pro Only
See the overall Technical Analysis forecast for today.

Overview

TSCO finished the week 1.98% higher at 78.24 after gaining $0.96 (1.24%) today. Today's closing price of 78.24 marks the highest close since January 29th. Closing above Thursday's high at 77.88, the market confirms its breakout through the previous session's high having traded $0.88 above it intraday.

Daily chart for TSCO

Volatility

Friday's trading range was $1.54 (1.99%), that's above last trading month's daily average range of $1.27. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Breaking through the key resistance level at 78.00 today, it is now likely to act as support going forward. After having been unable to move lower than 77.10 in the prior session, the stock found buyers again around the same price level today at 77.22.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Further buying could move prices higher should the market test June's close-by high at 79.04.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bullish sentiment for the next trading day.

Market Conditions for Tractor Supply Company

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