Tractor Supply Company Stock Forecast
Tractor Supply Company stock price ended at $258.13 on Wednesday, after gaining 0.85%.
(Updated on Apr 24, 2024)
The Tractor Supply Company stock price gained 0.85% on the last trading day (Wednesday, 24th Apr 2024), rising from $255.96 to $258.13. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.92% from a day low at $251.00 to a day high of $258.32. The price has risen in 6 of the last 10 days and is up by 1.91% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 310 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $340.24 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 11.04% during the next 3 months and, with a 90% probability hold a price between $272.12 and $306.86 at the end of this 3-month period.
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TSCO Signals & Forecast
The Tractor Supply Company stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $251.41 and $253.60. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -3.02%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Tractor Supply Company stock
On the downside, the stock finds support just below today's level from accumulated volume at $234.90 and $226.34. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Tractor Supply Company finds support just below today's level at $234.90. If this is broken, then the next support from accumulated volume will be at $226.34 and $224.60.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $7.32 (2.92%) between high and low. For the last week, the stock has had daily average volatility of 2.02%.
Our recommended stop-loss: $247.75 (-4.02%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 23 days ago.)
Trading Expectations (TSCO) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Tractor Supply Company to open at $255.82, and during the day (based on 14 day Average True Range), to move between $252.77 and $263.49, which gives a possible trading interval of +/-$5.36 (+/-2.08%) up or down from last closing price. If Tractor Supply Company takes out the full calculated possible swing range there will be an estimated 4.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $258.24 (0.04%) than the support at $234.90 (9.00%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Tractor Supply Company will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.70. We will update the financials statements for Tractor Supply Company, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.00% in the first trading day after earnings release.
Is Tractor Supply Company stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Tractor Supply Company stock to perform well in the short-term.
Current score: 1.390 Buy Candidate Unchanged
Predicted Opening Price for Tractor Supply Company of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $255.82 ( 0.90%) | $258.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TSCO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 263.14 | 1.94 % | |
| R2 | 260.34 | 0.86 % | ||
| R1 | 258.61 | 0.187 % | ||
| Current price: | 258.13 | |||
| Support | S1 | 253.02 | -1.98 % | |
| S2 | 251.29 | -2.65 % | ||
| S3 | 248.50 | -3.73 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 266.17 | 3.11 % | |
| R2 | 262.97 | 1.88 % | ||
| R1 | 258.24 | 0.0426 % | ||
| Current price | 258.13 | |||
| Support | S1 | 234.90 | -9.00% | |
| S2 | 226.34 | -12.32% | ||
| S3 | 224.60 | -12.99% |
TSCO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 06, 2024 | Feb 26, 2024 | Mar 12, 2024 | $1.10 | 0.441% |
| 2 | Feb 05, 2024 | Feb 23, 2024 | Mar 12, 2024 | $1.10 | 0.441% |
| 3 | Nov 08, 2023 | Nov 24, 2023 | Dec 12, 2023 | $1.03 | 0.478% |
| 4 | Aug 09, 2023 | Aug 25, 2023 | Sep 12, 2023 | $1.03 | 0.474% |
| 5 | May 10, 2023 | May 26, 2023 | Jun 13, 2023 | $1.03 | 0.474% |
FAQ
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