MSC Industrial Direct Company Inc Stock Forecast
Red day on Wednesday for MSC Industrial Direct Company Inc stock after losing 0.307%
(Updated on May 01, 2024)
The MSC Industrial Direct Company Inc stock price fell by -0.307% on the last day (Wednesday, 1st May 2024) from $91.24 to $90.96. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 1.82% from a day low at $90.45 to a day high of $92.10. The price has been going up and down for this period, and there has been a -0.15% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -83 thousand shares and in total, 290 thousand shares were bought and sold for approximately $26.37 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 -8.44% during the next 3 months and, with a 90% probability hold a price between $81.38 and $88.88 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
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 sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $92.62 and $94.73. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -8.60%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for MSC Industrial Direct Company Inc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $1.65 between high and low, or 1.82%. For the last week the stock has had daily average volatility of 1.48%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MSM) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect MSC Industrial Direct Company Inc to open at $91.17, and during the day (based on 14 day Average True Range), to move between $89.41 and $92.51, which gives a possible trading interval of +/-$1.55 (+/-1.70%) 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 3.40% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $95.95, some $4.99 (5.49%) from the current price of $90.96, our system finds the risk reward not very attractive.
Is MSC Industrial Direct Company Inc stock A Buy?
MSC Industrial Direct Company Inc holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.635 Sell Candidate Unchanged
Predicted Opening Price for MSC Industrial Direct Company Inc of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $91.17 ( 0.229%) | $90.96 |
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 | 92.81 | 2.04 % | |
| R2 | 92.18 | 1.35 % | ||
| R1 | 91.80 | 0.92 % | ||
| Current price: | 90.96 | |||
| Support | S1 | 90.54 | -0.462 % | |
| S2 | 90.15 | -0.89 % | ||
| S3 | 89.52 | -1.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 103.08 | 13.32 % | |
| R2 | 97.04 | 6.68 % | ||
| R1 | 95.95 | 5.49 % | ||
| Current price | 90.96 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
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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