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SmarTrend Watching for Potential Rebound in Shares of Tractor Supply After 1.26% Loss

By David Diaz

Tractor Supply (NASDAQ:TSCO) traded in a range yesterday that spanned from a low of $73.46 to a high of $75.69. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $75.12 on volume of 795,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Tractor Supply has traded in a range of $49.87 to $82.68 and is now at $74.40, 49% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has risen 0.4%.

SmarTrend recommended that subscribers consider buying shares of Tractor Supply on April 26th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $65.10. Since that recommendation, shares of Tractor Supply have risen 15.5%. We continue to monitor TSCO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders tractor supply

Ticker(s): TSCO