Tractor Supply

Tractor Supply

I’ve got a brand new combine harvester and I’ll show you the key!!!

They are called Tractor Supply and were a recent addition to the Nasdaq last year. They are the biggest tractor supplier in the USA. Just get on your tractor and have a look at their website. They sell everything there is to do with farms and a lot more to boot. Have a quick look at their accounts to see how much wonga they are making, very impressive indeed and moving in the right direction. They have plenty of cash on the balance sheet and little debt. Testing this with a small amount to begin with and then will add to this if the tractor really starts revving up the hill!!!

tractor_supply_logo

However, as you know I won’t throw caution to the wind so I want some protection on the downside if she coughs and splutters for a while as the buyers are picking their time when to get in. Don’t think it will be long though if they are seeing what I am seeing. The dividend release date is 24th February so not long to wait until after then. Technical indicators show the MACD has crossed up and over. The RSI shows that it has been oversold at 40. Most significantly we are bouncing off our magic red line on the daily and weekly chart so reliable support level to trade from. Come on the tractor!!!

Looking for an entry point of around 6672 and a target point of the previous high at the end of the year which was 7758 so it will be nice if it get’s there again. Will take some profits on the way though just in case she does a U turn and heads back down the hill again.  Will keep you posted.

As always please remember this is not a recommendation to buy or sell Tractor. You need to do your own research as this is for educational purposes only. 

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