Tractor Supply Stock Boasting Several Support Layers
Tractor Supply(TSCO) Schaeffers Investment Research·2024-09-14 01:20
After breaking out from a downtrend and retest, Tractor Supply Co (NASDAQ:TSCO) stock just pulled back to a confluence of moving averages – namely, the 20-, 50-, and 80-day trendlines – that could act as a launch pad. The shares are pushing back above a 50% Fibonacci retracement level from recent peaks to lows after retesting it early in the week, while the $265 area, a pivot point through summer trading, held strong earlier last week. Given this solid technical foundation, we're recommending a long positio ...