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Watch for Tractor Supply to Potentially Rebound After Falling 1.12% Yesterday

By Nick Russo

Tractor Supply (NASDAQ:TSCO) traded in a range yesterday that spanned from a low of $62.91 to a high of $63.95. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $63.61 on volume of 827,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Tractor Supply share prices have been bracketed by a low of $49.87 and a high of $95.39 and are now at $63.12, 27% above that low price. The 200-day and 50-day moving averages have moved 0.02% higher and 0.83% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Tractor Supply on January 31st, 2018 by issuing a Downtrend alert when the shares were trading at $77.24. Since that call, shares of Tractor Supply have fallen 17.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders tractor supply

Ticker(s): TSCO