Nice Inverse H&S formation for TSCO, with declining volume on the way down and increasing volume on the breakout confirming the chart pattern. Initial profit taking point can be either at $64.30 or $67. Should the conditions be right, I wouldn't be surprised if bulls tried to take out the gap between $78 - $82 before moving down.
They will probably try to head fake all the break out buyers here, so be prepared. Looking for a run above $100.00 if bulls stay in charge in overall markets. This one isn't a clothing fad like BKE. AMZN does not impact this one as it does other retail names. For other plays visit www.StockSpotify.com
Great buying opportunity on TSCO PLC. A double bottom has occurred around the 160.00 area and it has since bounce upwards and broken through the 200.00 psychological resistance number. support of the fast moving average too. target 1 300.00 which is support turned resistance. will evaluate once it reaches target 1