Tractor Supply Company Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Tractor Supply Company stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on Apr 24, 2024)
The Tractor Supply Company stock price fell by -0.546% on the last day (Wednesday, 24th Apr 2024) from £293.00 to £291.40. During the last trading day the stock fluctuated 1.13% from a day low at £290.90 to a day high of £294.20. The price has risen in 6 of the last 10 days but is still down by -1.89% for this period. 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 -35 million shares and in total, 16 million shares were bought and sold for approximately £4.55 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 £283.37 and £305.50 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 £286.09 and £288.06. 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 3.77%. 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 £3.30 (1.13%) between high and low. For the last week, the stock has had daily average volatility of 1.46%.
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 Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Tractor Supply Company to open at £292.17, and during the day (based on 14 day Average True Range), to move between £285.51 and £297.29, which gives a possible trading interval of +/-£5.89 (+/-2.02%) up or down from last closing price. If Tractor Supply Company takes out the full calculated possible swing range there will be an estimated 4.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £293.00 (0.55%) than the support at £282.00 (3.23%), 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 negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.191 Sell Candidate Downgraded
Predicted Opening Price for Tractor Supply Company of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| £292.17 ( 0.263%) | £291.40 |
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 | 295.47 | 1.40 % | |
| R2 | 294.21 | 0.96 % | ||
| R1 | 293.43 | 0.696 % | ||
| Current price: | 291.40 | |||
| Support | S1 | 290.91 | -0.170 % | |
| S2 | 290.13 | -0.437 % | ||
| S3 | 288.87 | -0.87 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 298.80 | 2.54 % | |
| R2 | 293.50 | 0.721 % | ||
| R1 | 293.00 | 0.549 % | ||
| Current price | 291.40 | |||
| Support | S1 | 282.00 | -3.23% | |
| S2 | 280.80 | -3.64% | ||
| S3 | 279.60 | -4.05% |
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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