Tractor Supply Company Stock Forecast
Stronger technical forecast for Tractor Supply Company stock price after Friday trading.
(Updated on Apr 26, 2024)
The Tractor Supply Company stock price fell by -0.311% on the last day (Friday, 26th Apr 2024) from £289.80 to £288.90. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.09% from a day low at £286.70 to a day high of £292.70. The price has been going up and down for this period, and there has been a 2.12% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -9 million shares and in total, 9 million shares were bought and sold for approximately £2.65 billion.
The stock lies in the middle of a weak 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 2.82% during the next 3 months and, with a 90% probability hold a price between £288.42 and £309.36 at the end of this 3-month period.
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TSCO.L 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 £288.33 and £288.69. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 2.88%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Tractor Supply Company stock
Tractor Supply Company finds support from accumulated volume at £282.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 £6.00 (2.09%) between high and low. For the last week, the stock has had daily average volatility of 1.68%.
Our recommended stop-loss: £273.62 (-5.29%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (TSCO.L) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Tractor Supply Company to open at £289.43, and during the day (based on 14 day Average True Range), to move between £283.12 and £294.68, which gives a possible trading interval of +/-£5.78 (+/-2.00%) up or down from last closing price. If Tractor Supply Company takes out the full calculated possible swing range there will be an estimated 4.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £289.80 (0.31%) than the support at £282.00 (2.39%), 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.
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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.044 Buy Candidate Upgraded
Predicted Opening Price for Tractor Supply Company of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| £289.43 ( 0.185%) | £288.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TSCO.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 295.43 | 2.26 % | |
| R2 | 293.14 | 1.47 % | ||
| R1 | 291.73 | 0.98 % | ||
| Current price: | 288.90 | |||
| Support | S1 | 287.14 | -0.609 % | |
| S2 | 285.73 | -1.10 % | ||
| S3 | 283.43 | -1.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 293.00 | 1.42 % | |
| R2 | 290.80 | 0.658 % | ||
| R1 | 289.80 | 0.312 % | ||
| Current price | 288.90 | |||
| Support | S1 | 282.00 | -2.39% | |
| S2 | 280.80 | -2.80% | ||
| S3 | 279.60 | -3.22% |
TSCO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 16, 2024 | May 16, 2024 | Jun 28, 2024 | £8.25 | 2.86% |
| 2 | Oct 12, 2023 | Oct 12, 2023 | Oct 12, 2023 | £3.85 | 1.38% |
| 3 | May 11, 2023 | May 11, 2023 | May 11, 2023 | £7.05 | 2.58% |
| 4 | Oct 05, 2022 | Oct 13, 2022 | Nov 25, 2022 | £3.85 | 1.64% |
| 5 | Apr 13, 2022 | May 19, 2022 | Jun 24, 2022 | £7.70 | 3.01% |
FAQ
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