December 17 Chart of the Day - Toro
Highly precise price action technical analysis offers the strongest trading edges and the most opportunities across the markets, making it the foundation of our reviews.
Toro (TTC), the well-known manufacturer of turf, landscaping, irrigation, and grounds maintenance equipment, surged more than 10 percent today on earnings.
The strong reaction has pushed price directly into a cluster of overhead levels where a meaningful decision now awaits.
Traders are watching closely to see whether today’s move is the start of a broader reversal or simply a rally into resistance.
We'll review the chart from a price action perspective to identify potential levels of interest in both directions.
The charts highlight key levels where investors and traders alike will be watching closely.
Consistent profitable investing and/or trading requires a structured, rules-based approach to price action analysis. Proven processes, disciplined risk-reward management, and precise execution create the foundation for long-term success.
When combined with powerful mental performance strategies, this method becomes the ultimate blueprint for thriving in any market, on any time frame.
As requested, this analysis will take a price action technical analysis approach to assess key levels and potential next price moves for this chart.
Since May 2023, we've showcased over 675+ Charts of the Day and provide a Free Quick Start Guide to traders with ambitious income goals for our patent-pending NeuroTrading Method®
Monthly Chart
The monthly chart shows TTC recovering from a multi-quarter decline that began after the $118.13 peak. Price has bounced from the low $60s and is now pressing into the mid-range of its long-term Fibonacci structure.
Key levels drawn on the chart include:
• Upside targets in the $90+ area
• Local support and reaction levels near $80.44
• Support cluster at $70.74
• Broader downside structure around $67.04 and $63.07
While today’s earnings surge is strong, TTC sits directly beneath a long history of failed rallies and layered resistance. A continuation above $80.44 could be the first long-term sign of regained strength.
With plenty of volatility traders have had much to be happy with and long term buy and hold investors have been greatly disappointed.
This kind of movement highlights why a cautious and well-informed approach is essential when evaluating a stock’s short to mid term outlook.
Weekly Chart
The weekly chart highlights a large descending triangle structure formed by lower highs and anchored support near the mid $60s. Price has repeatedly failed at the declining red trend line, and today’s surge brings TTC back into reach with that same area.
Important levels:
• 61.8 percent retracement around $72.59
• 50 percent retracement near $74.12
• Broader resistance band at $81.63 to $86.19
• Long-term trend line support in the $63 to $67 region
The next test for TTC is whether it can break above the $81.63 to $86.19 zone. Clearing that range could signal a major structural shift. Failing there would keep TTC trapped inside the broader multi-year compression.
It goes without saying though, the only guarantee in the markets is that price cycles. It cycles up and it cycles down across all time frames and all charts and rarely, if ever, moves in a straight line.
Only time will tell for sure what price will do next...
We’ve combined Fibonacci levels with key support/resistance zones and trend analysis to pinpoint potential price levels of interest and future targets.
With precision-focused charts like these, both traders and investors can confidently build and execute their strategies.
So what's next?
We don't make predictions...
Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.
- Support/Resistance
- Trend
- Fibonacci
- Supply/Demand Zones
- Change Control Zones
ChartPros provides the exact methodology in its price action technical analysis courses to create charts like this with the most precise and accurate levels from which investors and traders can formulate their respective trade plans.
Take a look at the charts and let us know what you think. We'd like to hear from you in the comments sections.
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