GBX 473.20 support helps Tesco stock trade flat

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Tesco rises 0.77% today to GBX489.40

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Oleg Tkachenko

10.04.2026

GBX 473.20 support helps Tesco stock trade flat — Tesco rises 0.77% today to GBX489.40

Tesco PLC (TSCO) is trading at GBX 489.40, staying well above the SMA-20 (GBX 473.62), SMA-50 (GBX 469.52), and SMA-200 (GBX 442.97), which confirms a strong bullish structure across short, medium, and long-term trends. The Ichimoku Kijun level (GBX 473.20) sits below the current price, marking it as immediate support.

TSCO price prediction

24H 0.07%

GBX 448.5

48H 0.4%

GBX 450

7D 0.42%

GBX 450.1

1M -7.35%

GBX 415.25

3M 0.61%

GBX 450.95

6M 7.73%

GBX 482.85

12M 14.08%

GBX 511.3

Detailed

Current price: GBX 448.2 4.60 1.04%

Closed 06/04

Daily range 440.90

449.30

Weekly range 428.50

443.60

Highlights

Tesco's adjusted earnings per share surged 17% to 27.38p, driven by strong profit growth and lower finance costs.
Sustained cash flow enables ongoing share buybacks, with £2.8bn repurchased since October 2021 and an additional £1.45bn planned by April 2026.
TSCO maintains a bullish technical setup above major supports, with an 80%+ probability of trading in the GBX 489.80–493.10 range in the near term.

Share buybacks and profit growth bolster balance sheet strength

Tesco has continued to grow its profits and cash flow, enabling it to undertake significant share buybacks and announce strong financial results. Adjusted earnings per share rose 17% to 27.38p, supported by higher profit, lower finance costs, and ongoing share repurchases. Since October 2021, Tesco has repurchased £2.8bn of shares, with a further £1.45bn buyback program planned to complete by the end of April 2026. These regular buybacks and robust cash generation are helping to maintain a strong balance sheet and sustain Tesco's market position.

Overbought momentum signals possible short-term consolidation

Momentum remains constructive as both MACD and ADX (D1) signal ongoing upward pressure, although the ADX value underlines a weak trend. RSI (58.13) and CCI (75.85) show steady upward momentum but with Stoch RSI and BBP at overbought levels, suggesting buyers currently dominate and the stock may be running hot intraday. The AO is positive and aligns with the bullish bias. The daily change is up 0.77% (GBX 3.75), with no meaningful gap between yesterday’s close and today’s open, as the stock opened slightly higher and now sits near the session high. Intraday volatility is low and the tone has been strong with persistent strength toward the top of the daily range. The overbought oscillators caution that some short-term consolidation or profit-taking is possible, despite the bullish momentum.

Upside favored as buy signals dominate technical outlook

For the next five trading days, the expected range for TSCO is GBX 489.80 to GBX 493.10, reflecting a typical volatility band relative to current levels. The probability of an increase is very high (more than 80%) based on unanimous buy signals across MA-50, RSI, ADX, and MACD on the weekly timeframe, making a downward move much less likely. Baseline scenario: TSCO remains range-bound near current highs. In the bullish case, price breaks above GBX 493.10 to test new highs if buying pressure persists. In a bearish scenario, a pullback below immediate support at the Ichimoku Kijun (GBX 473.20) could trigger short-term weakness or consolidation.

Viktoras Karapetjanc, expert at Traders Union, sees Tesco PLC as maintaining strong bullish momentum backed by robust fundamentals and positive market sentiment. He notes the company’s solid cash flow and ongoing buybacks as strengthening its position, while a technical setup above key averages signals confidence. The analyst highlights minor overbought signs yet observes persistent demand near session highs. Karapetjanc believes that short-term consolidation is possible, but the overall outlook remains constructive. "With momentum, fundamentals, and sentiment all aligned, I expect Tesco to continue outperforming within its current bullish trend."

Earlier, analysts noted that Tesco was maintaining a bullish technical structure despite some mixed momentum signals and near-term volatility. The latest results and sustained share buybacks now reinforce this positive outlook, with traders advised to monitor GBX 493.10 as the next potential breakout level if upward momentum persists.

Source of Data: TSCO Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.