TSCO (Tractor Supply) Potential Double Top amid Bearish RSI Divergence Points Lower

TSCO formed a potential double top reversal pattern (from 74.51/74.43 highs ) amid bearish RSI divergence. A downside break below 71.21 would expose 66.15 for a retest (Support 1). A breakdown there would confirm the double top pattern and initiate the next downleg towards 65.11 (Support 2) ahead of 58.49 (Support 3) which is near the double top pattern’s measured target at 58.00.

However, recycle strength above the 74.43/74.51 resistance zone (Resistance 1) would negate and allow bulls to seek the Fibonacci target at 76.34 (0.618x 58.49/74.51 from 66.15, Resistance 2) then the equality target at 82.62 (1.000x 58.49/74.51 from 66.15, Resistance 3).

Trading Indication:
Short-term: Sell at 73.50 or higher;
Target at 66.15 and lower;
Stop Loss at 74.50 (1.5%)
Long-term: Possibly buy lower