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TSCO closes within prior day's range after lackluster session


Technical Analysis Report for TSCO - Apr 16, 2018 [< 1 min read]
Highlights
TSCO runs into sellers again around 60.50
TSCO closes within previous day's range after lackluster session
TQ Sentiment
Technical Forecast:
Overview

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 chart for TSCO
Volatility

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.

Support/Resistance

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.

Trend

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

Order Flow

Selling could accelerate should prices move below the nearby swing low at 58.27 where further sell stops might get activated.

Conclusion

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

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
High close to previous High TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
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