Here’s a Quickie

Tractor Supply Company ($TSCO) is testing a major area of confluence that could offer an excellent selling opportunity. Here’s why..

Confluence of Resistance

This stock has been testing a clear area of visual resistance at around $71.75 since April and is beginning to show signs of weakness. Making matters worse is the fact that price is also turning down off yearly and monthly pivot-based resistance levels.

The yearly R2 resistance level is $71.20 and the monthly H3 resistance level is $72.55. These three zones combine to make a solid wall of resistance that could spark the next key sell-off in this stock.

Tractor Supply Company ($TSCO)

Look for price to drop back toward prior support at the $60 area, especially if price breaks $66.85.

Let’s see what happens!

Cheers!

Frank Ochoa
PivotBoss.com

Follow Frank on Twitter: http://twitter.com/PivotBoss