Tractor Supply Company : Close to important support
By Oscar Salza
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$81.01 | $0 | $78.5 | -100% |
In 2012, the profitability of Tractor Supply Company should improve as the net margin growth shows. It should be at 6.33% in 2014 against 5.73% for the current year and sales are expected to increase. To date, PER for 2012 is estimated at 21.99 and at 18.74 for 2013.
The area of the USD 80 support should enable the stock to have a new bullish trend. The long term support in this area confirms its relevance. Technically, above these levels, 4-traders analysts are optimistic and count on a return toward USD 91.
Investors can take a long position within the USD 80 area. In the first instance, the target price will be the 50 and 100 days moving average at USD 91. In case of breakdown of the USD 79.8 support at the closing price, investors should close their positions.