Tractor Supply shows a strong performance for several trading sessions.

From a fundamental viewpoint, the group is in a good financial situation. Sales are expected to increase by 10.7% this year, with a net margin of 5.93%. Further, analysts regularly revise upward their EPS estimates.

Since several months, the stock has initiated a sharp bullish trend mainly due to strong fundamentals. This movement is very gradual and seems very healthy thanks to many consolidation phases, always within its bullish channel.

Exceeding the technical line at USD 123.3, confirmed in daily closing price, would allow to benefit from the bullish trend. In this case, market participants could buy this stock with an initial target at USD 130, corresponding to the upper limit of the channel. A stop loss will be placed below USD 123.3.