TRACTOR SUPPLY COMPA

TSCO
Delayed Quote. Delayed  - 10/29 04:00:00 pm
133.02USD +0.35%

Tractor Supply Company : Close to a key resistance level

Nathan Houtch
Junior Analyst

Strategy published on : 10/14/2020 | 06:32

long trade under condition
Stop-loss triggered

Entry price : 155$
Target : 174$
Stop-loss : 143.3$
Cancellation Level : 137$
Potential : 12.26%

Tractor Supply Company shares are trading close to a major resistance level. Given the share's technical chart pattern, investors could anticipate that this resistance zone will be broken which could lead to new upside potential.
Investors should benefit from the breakout of the $ 155 level to target the $ 174.

Summary

● The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.

● In a short-term perspective, the company has interesting fundamentals.


Strengths

● Predictions on business development from analysts polled by Standard & Poor's are tight. This results from either a good visibility into core activities or accurate earnings releases.

● The group usually releases upbeat results with huge surprise rates.

● Growth remains a strong point in this company. In their sales forecast, analysts sound optimistic with regard to sales prospects.

● Over the last twelve months, the sales forecast has been frequently revised upwards.

● For the last few months, EPS revisions have remained quite promising. Analysts now anticipate higher profitability levels than before.

● For the last twelve months, analysts have been gradually revising upwards their EPS forecast for the upcoming fiscal year.

● Within the weekly time frame the stock shows a bullish technical configuration above the support level at 107.58 USD


Weaknesses

● Stock prices approach a strong long-term resistance in weekly data at USD 153.28.

● The stock is currently in contact with a medium-term resistance that must be gotten rid of so as to resume the upward trend.

● The company is not the most generous with respect to shareholders' compensation.

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