Tractor Supply Company Stock Forecast
Tractor Supply Company stock price up 1.20% on Monday
(Updated on Apr 15, 2024)
The Tractor Supply Company stock price gained 1.20% on the last trading day (Monday, 15th Apr 2024), rising from £282.90 to £286.30. During the last trading day the stock fluctuated 1.27% from a day low at £283.40 to a day high of £287.00. The price has fallen in 6 of the last 10 days and is down by -3.47% for this period. Volume fell on the last day by -7 million shares and in total, 20 million shares were bought and sold for approximately £5.74 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Tractor Supply Company stock with a 90% probability to be traded between £269.87 and £295.37 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
TSCO.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 11, 2024, and so far it has risen 1.52%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Tractor Supply Company stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at £287.61 and £286.43. A break-up above any of these levels will issue buy signals. 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
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.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £3.60 between high and low, or 1.27%. For the last week the stock has had daily average volatility of 3.90%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TSCO.L) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect Tractor Supply Company to open at £285.57, and during the day (based on 14 day Average True Range), to move between £280.24 and £292.36, which gives a possible trading interval of +/-£6.06 (+/-2.12%) up or down from last closing price. If Tractor Supply Company takes out the full calculated possible swing range there will be an estimated 4.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £282.00 (1.50%) than the resistance at £296.00 (3.39%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tractor Supply Company stock A Buy?
Tractor Supply Company holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.099 Sell Candidate Unchanged
Predicted Opening Price for Tractor Supply Company of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| £285.57 ( 0.256%) | £286.30 |
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 | 289.17 | 1.00 % | |
| R2 | 287.79 | 0.521 % | ||
| R1 | 286.94 | 0.224 % | ||
| Current price: | 286.30 | |||
| Support | S1 | 284.19 | -0.736 % | |
| S2 | 283.34 | -1.03 % | ||
| S3 | 281.97 | -1.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 302.30 | 5.59 % | |
| R2 | 298.80 | 4.37 % | ||
| R1 | 296.00 | 3.39 % | ||
| Current price | 286.30 | |||
| Support | S1 | 282.00 | -1.50% | |
| S2 | 280.40 | -2.06% | ||
| S3 | 279.60 | -2.34% |
TSCO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 16, 2024 | May 16, 2024 | Jun 28, 2024 | £8.25 | 2.88% |
| 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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