Madison Square Garden Sports Corp. Stock Forecast
Red day on Tuesday for Madison Square Garden Sports Corp. stock after losing 0.260%
(Updated on May 28, 2024)
The Madison Square Garden Sports Corp. stock price fell by -0.260% on the last day (Tuesday, 28th May 2024) from $184.30 to $183.82. During the last trading day the stock fluctuated 0.80% from a day low at $183.14 to a day high of $184.61. The price has been going up and down for this period, and there has been a -0.66% loss for the last 2 weeks. Volume has increased on the last day by 10 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 94 thousand shares were bought and sold for approximately $17.36 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Madison Square Garden Sports Corp. stock with a 90% probability to be traded between $181.64 and $193.13 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MSGS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 23, 2024, and so far it has risen 0.745%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Madison Square Garden Sports Corp. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $185.63 and $185.21. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Madison Square Garden Sports Corp. stock
Madison Square Garden Sports Corp. finds support from accumulated volume at $183.31 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.47 between high and low, or 0.80%. For the last week the stock has had daily average volatility of 1.06%.
Our recommended stop-loss: $174.45 (-5.10%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (MSGS) For The Upcoming Trading Day Of Wednesday 29th
For the upcoming trading day on Wednesday, 29th we expect Madison Square Garden Sports Corp. to open at $183.86, and during the day (based on 14 day Average True Range), to move between $181.03 and $186.61, which gives a possible trading interval of +/-$2.79 (+/-1.52%) up or down from last closing price. If Madison Square Garden Sports Corp. takes out the full calculated possible swing range there will be an estimated 3.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $184.04 (0.12%) than the support at $183.31 (0.28%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Madison Square Garden Sports Corp. stock A Buy?
Madison Square Garden Sports Corp. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.722 Hold/Accumulate Unchanged
Predicted Opening Price for Madison Square Garden Sports Corp. of Wednesday, May 29, 2024
| Fair opening price May 29, 2024 | Current price |
|---|---|
| $183.86 ( 0.0199%) | $183.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MSGS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 185.33 | 0.82 % | |
| R2 | 184.77 | 0.514 % | ||
| R1 | 184.42 | 0.325 % | ||
| Current price: | 183.82 | |||
| Support | S1 | 183.30 | -0.286 % | |
| S2 | 182.95 | -0.474 % | ||
| S3 | 182.39 | -0.780 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 185.04 | 0.664 % | |
| R2 | 184.65 | 0.452 % | ||
| R1 | 184.04 | 0.120 % | ||
| Current price | 183.82 | |||
| Support | S1 | 183.31 | -0.277% | |
| S2 | 182.33 | -0.81% | ||
| S3 | 181.87 | -1.06% |
MSGS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 14, 2022 | Oct 14, 2022 | Oct 31, 2022 | $7.00 | 4.47% |
FAQ
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