MSC Industrial Direct Company Inc Stock Forecast
MSC Industrial Direct Company Inc stock upgraded to Hold/Accumulate.
(Updated on Apr 26, 2024)
The MSC Industrial Direct Company Inc stock price fell by -0.0107% on the last day (Friday, 26th Apr 2024) from $93.23 to $93.22. During the last trading day the stock fluctuated 1.08% from a day low at $92.92 to a day high of $93.92. The price has been going up and down for this period, and there has been a 0.58% gain for the last 2 weeks. Volume has increased on the last day by 91 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, 331 thousand shares were bought and sold for approximately $30.83 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -7.52% during the next 3 months and, with a 90% probability hold a price between $83.42 and $90.81 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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MSM Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 2.33%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The MSC Industrial Direct Company Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $95.23. On a fall, the stock will find some support from the short-term average at $92.80. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 MSC Industrial Direct Company Inc stock
MSC Industrial Direct Company Inc finds support from accumulated volume at $92.92 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 $1.00 between high and low, or 1.08%. For the last week the stock has had daily average volatility of 1.39%.
Our recommended stop-loss: $88.94 (-4.59%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (MSM) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect MSC Industrial Direct Company Inc to open at $93.35, and during the day (based on 14 day Average True Range), to move between $91.67 and $94.77, which gives a possible trading interval of +/-$1.55 (+/-1.67%) up or down from last closing price. If MSC Industrial Direct Company Inc takes out the full calculated possible swing range there will be an estimated 3.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $92.92 (0.32%) than the resistance at $95.95 (2.93%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is MSC Industrial Direct Company Inc stock A Buy?
MSC Industrial Direct Company Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.660 Hold/Accumulate Upgraded
Predicted Opening Price for MSC Industrial Direct Company Inc of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$93.35 ( 0.143%) | $93.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MSM
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 94.35 | 1.22 % | |
R2 | 93.97 | 0.81 % | ||
R1 | 93.74 | 0.553 % | ||
Current price: | 93.22 | |||
Support | S1 | 92.97 | -0.267 % | |
S2 | 92.74 | -0.520 % | ||
S3 | 92.35 | -0.93 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 103.08 | 10.58 % | |
R2 | 97.04 | 4.10 % | ||
R1 | 95.95 | 2.93 % | ||
Current price | 93.22 | |||
Support | S1 | 92.92 | -0.322% | |
S2 | 92.46 | -0.82% | ||
S3 | 91.36 | -2.00% |
MSM Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 08, 2024 | Apr 08, 2024 | Apr 23, 2024 | $0.83 | 0.89% |
2 | Dec 15, 2023 | Jan 08, 2024 | Jan 23, 2024 | $0.83 | 0.86% |
3 | Oct 11, 2023 | Nov 13, 2023 | Nov 28, 2023 | $0.83 | 0.85% |
4 | Jun 21, 2023 | Jul 10, 2023 | Jul 25, 2023 | $0.790 | 0.790% |
5 | Mar 22, 2023 | Apr 10, 2023 | Apr 25, 2023 | $0.790 | 0.88% |
FAQ
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