• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Tractor Supply (NASDAQ:TSCO)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Tractor Supply (NASDAQ:TSCO) based on the price action in the company's shares. Yesterday's price range of $96.99 and $97.82 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Tractor Supply may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Tractor Supply has traded in a range of $88.02 to $114.25 and closed yesterday at $97.24, 10% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Tractor Supply Company operates a retail farm store chain in the United States. The Company provides farm maintenance, animal, general maintenance, lawn and garden, light truck equipment, work clothing, and other products. Tractor Supply serves hobby, part-time, and full-time farmers and ranchers, as well as rural customers, contractors, and tradesman.

Tractor Supply (NASDAQ:TSCO) is currently priced 23.3% above its average consensus analyst price target of $74.55. The stock should find resistance at its 200-day moving average (MA) of $99.35, as well as support at its 50-day MA of $93.68.

SmarTrend is monitoring the recent change of momentum in Tractor Supply. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Tractor Supply in search of a potential trend change.

Keywords: bearish am inside day candle tractor supply

Ticker(s): TSCO