TSCO closes within prior day's range after lackluster session
Tractor Supply Company (TSCO) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team
TSCO ended Monday at 59.77 gaining $1.45 (2.49%). Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session.
Daily Candlestick Chart (TSCO as at Apr 16, 2018):
Monday's trading range was $1.20 (1.99%), that's below last trading month's daily average range of $1.77. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
Prices are trading close to a key support level at 58.89. After having been unable to move above 60.40 in the prior session, the stock ran into sellers again around the same price level today, failing to move higher than 60.50.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Selling could accelerate should prices move below the nearby swing low at 58.27 where further sell stops might get activated.