Tractor Supply Company Stock Forecast
Green day on Monday for Tractor Supply Company
(Updated on Apr 22, 2024)
The Tractor Supply Company stock price gained 3.45% on the last trading day (Monday, 22nd Apr 2024), rising from £281.40 to £291.10. During the last trading day the stock fluctuated 2.59% from a day low at £285.30 to a day high of £292.70. The price has risen in 6 of the last 10 days and is up by 1.08% 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, 8 million more shares were traded than the day before. In total, 16 million shares were bought and sold for approximately £4.75 billion.
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 £276.97 and £300.66 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.
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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 £283.91 and £287.18. 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 3.67%. Further rise is indicated until a new top pivot has been found. 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. 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.
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 £7.40 (2.59%) between high and low. For the last week, the stock has had daily average volatility of 1.82%.
Our recommended stop-loss: £276.76 (-4.93%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (TSCO.L) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Tractor Supply Company to open at £289.70, and during the day (based on 14 day Average True Range), to move between £284.97 and £297.23, which gives a possible trading interval of +/-£6.13 (+/-2.11%) up or down from last closing price. If Tractor Supply Company takes out the full calculated possible swing range there will be an estimated 4.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £293.50 (0.82%) than the support at £282.00 (3.13%), 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?
Tractor Supply Company holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.342 Hold/Accumulate Unchanged
Predicted Opening Price for Tractor Supply Company of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| £289.70 ( 0.481%) | £291.10 |
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 | 297.10 | 2.06 % | |
| R2 | 294.27 | 1.09 % | ||
| R1 | 292.53 | 0.490 % | ||
| Current price: | 291.10 | |||
| Support | S1 | 286.87 | -1.45 % | |
| S2 | 285.13 | -2.05 % | ||
| S3 | 282.30 | -3.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 298.80 | 2.65 % | |
| R2 | 297.00 | 2.03 % | ||
| R1 | 293.50 | 0.82 % | ||
| Current price | 291.10 | |||
| Support | S1 | 282.00 | -3.13% | |
| S2 | 280.80 | -3.54% | ||
| S3 | 279.60 | -3.95% |
TSCO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 16, 2024 | May 16, 2024 | Jun 28, 2024 | £8.25 | 2.83% |
| 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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