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Investors Ready To Buy $TSCO At This Technical Chart Level

Shares of Tractor Supply Company (NASDAQ:TSCO) continue to take a beating. Just in 2017, the stock is down 20% while stocks like Deere (NYSE:DE) move to new all-time highs. So what is going on here? Is there a buy level nearing? The stock chart has major support at $50 and with an attractive valuation, this is the spot where investors are looking to buy in the near-term. I would treat this as a swing trade, meaning do not think about it as a long term investment. The reason I would keep it near-term as a swing trade is because the weakness does bring up concerns over the global economy. If/when Tractor Supply Company hits $50 and becomes a strong buy, investors can look for a bounce back to $61.00.

Stock chart swing trade buy on Tractor Supply Company