Tractor Supply Company (TSCO)

Tractor Supply stock forecast: buy or sell

Tractor Supply stock outlook

  • After hitting all-time highs yesterday, Tractor Supply closed at $138.42 scarcely changing a 0.52%
  • It's been 5 consecutive sessions in green for Tractor Supply, gaining a 3.48%
  • Tractor Supply Company operates rural lifestyle retail stores in the United States.
No ad for you

Important:
The thoughts contained in this post are personal and not recommendations for you to buy or sell stocks. The author of this report does not know the particular conditions of the reader, his or her financial statements or his or her own best interests at any given time. All users should speak with their financial advisor before buying or selling any securities Opinions are posted for educative reasons only

Tractor Supply stock chart overview

Should I buy Tractor Supply stock?

All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best

Is TSCO stock a buy?

In the current situation of Tractor Supply there is not any eligible buy setup. This doesn't mean TSCO will slide in coming sessions, or it will not rise higher. Simply, it doesn't match our recommended trading systems

No ad for you

Should I sell Tractor Supply stock?

When you own a stock with some profit, it's really difficult to decide the best moment to sell and get your benefits. Trading strategies give us the ability us to avoid impulsive decisions based on our moods or the buzz surrounding the market. When selling, as well as buying, detailed strategies are very simple to follow and are only applicable for selling shares in your porfolio, not for shorting TSCO stock

A guiding principle is that you should not mantain an operation that yields losses greater than those expected at the time of the buy. The timing to sell your stock should always be dictated by the stop-loss (automatic or manual)

Is it time to sell Tractor Supply stock?

Currently, Tractor Supply stock doesn't match any of our preferred sell setups, so if you own Tractor Supply stock and your operation is in profit probably is not time to sell now

No ad for you

Analysts' recommendations to buy or sell Tractor Supply stock

Brokerage firms and financial institutions post stock ratings based on their views of the market and the fundamental and technical situation of the analyzed stock. Unfortunately, the accuracy of these predictions is not very high, and certainly not a direct buy or sell signal

In the last month, just one brokerage rating was published for Tractor Supply

No ad for you

Tractor Supply ratings

Brokerage firmRating
Jun 24th, 2020
Bank of America Strong buy

Technical analysis

Since in mid-March, Tractor Supply has been printing an uptrend that so far marked a gorgeous 117.37%. Rising peaks and troughs can be seen easily on a chart and how price provided very few buy points on the breakouts. Latest low was on June 15, when price bounced at $116.13. On June 17, Tractor Supply broke out above its last top ($124.43) offering a good buy point that resulted in a 11.24% profit

TSCO at new Highs

Yesterday, Tractor Supply marked new all-time highs (ATH) again at $138.65. It's the 8th time in the last 10 sessions, marking an important rally

SMAs overview

Moving averages are indicators for traders to gauge market momentum. A moving average is calculated as the simple mean of the previous N periods (usually sessions). Usual time periods used for moving averages are 21 days, 50 days, 100 days and 200 days. Further about Moving Averages from sources like Wikipedia and Investopedia

Supports and resistances

Investors use support and resistance levels as a way to find price points on a chart that may work as barriers, preventing the price of shares to move up or down. A support level is a level where the price may find support as it falls. Price is more likely to "rebound" this level rather than break through it. However, if the price breaks down this level, it will probably continue descending until approaching another support level. On the other side, a resistance level is where the price may find resistance as it rises. Likewise, this means that the price is more likely to "rebound" at this level, and if it finally ruptures this level, the price will climb easily until it meets the next resistance

Price is at highs and there are not upper resistances.

The current supports are:

  • S1: $124.43 (-10.11% below)
  • S2: $116.13 (-16.1% below)
  • S3: $112.68 (-18.6% below)
  • Bollinger bands

    This is an indicator that was developed in the 1980s by John Bollinger. It consists of three bands that are superimposed on the price evolution chart:

    • The central band is a moving average, usually a simple moving average calculated with 20 periods
    • The upper band is calculated by adding to the value of the simple moving average 2 times the standard deviation of the moving average
    • The lower band is calculated by subtracting from the simple moving average 2 times the standard deviation of the moving average

    The price is moving very close to the upper Bollinger band, poiting some level of overbought in recent sessions. This is not a sell signal, as price can trade in these levels for many days and weeks

    Relative strength index

    The relative strength index (RSI) is a technical indicator used in the analysis of financial markets. Its objective is to chart the current and historical weakness or strength of a stock or market based on the closing prices of a recent trading period. Oscillator indicators, such as relative strength, are designed to indicate values in the range of 0-100. J. Welles Wilder introduced the relative strength indicator in the late 1970s and since then it has been widely used by traders

    Relative strength (RSI) broke through the 70 level yesterday, with a value of 82.08. Breaking through above the level of 70 is not a sell signal, as stock price can be in the overvalued zone for many, many weeks and continue to rise

    No ad for you

    Earnings and financials

    Tractor Supply Company (TSCO) reported EPS for the fiscal 1st-quarter that matched Wall St. expectations. Quarterly EPS was $0.71 per share from an estimated $0.69. The company said revenue for Q1 was $2.0 billion aligned with the market forecasts as well.

    This compares to earnings of $0.63 per share same quarter last year, so posted EPS is a gain of 12.7%. Looking at revenues, figures went up a 7.69% compared to $1.8B same quarter a year ago. Tractor Supply reported three year over year quarterly positive results, increasing revenue by -2.97% from $2.0B on 2017-Q2.

    Tractor Supply presents quarterly financial report on Thursday next week. Analysts predict an Earnings per Share of $2.46, that is a 246.48% more than previous quarter. If you hold or you are considering buying Tractor Supply shares, you must be aware that earnings reporting day usually has a very high volatility, and price can jump up or down with very low liquidity and not honouring your buy or stop-loss orders. It's always good to review company's website to confirm time and details about the earnings call and the earnings report.

    No ad for you