The beans and corn were planted long ago and are rising fast. What is a farmer to do now? Just wait for the harvest? Mostly, but this is a good time to take a look at your equipment and see if you need any repairs. Maybe even time to go get some spare parts. And the good folks at Tractor Supply Co. (NASDAQ:TSCO) seem ready to greet you. Heck, looks like you can even ride your horse there.
But if you do not have a farm, then you still might have interest in Tractor Supply Co. for its stock. It has held up very well over the last 3 months. The chart below shows the flat consolidation over the 50 day SMA and a rising 200 day SMA.
The far right end shows that the recent activity has built an ascending triangle and price is back testing resistance again. A move over the top at 90.75 would target a run to 97.25. The Bollinger Bands® have squeezed and are now starting to open for a move. The RSI is rising and in the bullish zone. And the MACD just crossed up. Time to saddle up and head to your broker for a few shares.
Disclaimer: The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog. Please see my Disclaimer page for my full disclaimer.