Madison Square Garden Sports Corp. Stock Forecast
Madison Square Garden Sports Corp. stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on May 15, 2024)
The Madison Square Garden Sports Corp. stock price gained 1.78% on the last trading day (Wednesday, 15th May 2024), rising from $185.24 to $188.54. During the last trading day the stock fluctuated 1.98% from a day low at $185.80 to a day high of $189.47. The price has risen in 6 of the last 10 days and is up by 1.5% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 30 thousand more shares were traded than the day before. In total, 114 thousand shares were bought and sold for approximately $21.58 million.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $190.56 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Madison Square Garden Sports Corp. stock with a 90% probability to be traded between $176.65 and $188.83 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
The Madison Square Garden Sports Corp. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $188.00 and $184.73. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, May 08, 2024, and so far it has fallen -1.13%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Madison Square Garden Sports Corp. stock
Madison Square Garden Sports Corp. finds support from accumulated volume at $184.65 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 $3.67 between high and low, or 1.98%. For the last week the stock has had daily average volatility of 1.76%.
Our recommended stop-loss: $180.43 (-4.30%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (MSGS) For The Upcoming Trading Day Of Thursday 16th
For the upcoming trading day on Thursday, 16th we expect Madison Square Garden Sports Corp. to open at $187.94, and during the day (based on 14 day Average True Range), to move between $185.20 and $191.88, which gives a possible trading interval of +/-$3.34 (+/-1.77%) 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 3.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $189.34 (0.42%) than the support at $184.65 (2.06%), 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 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: 0.764 Hold/Accumulate Upgraded
Predicted Opening Price for Madison Square Garden Sports Corp. of Thursday, May 16, 2024
| Fair opening price May 16, 2024 | Current price |
|---|---|
| $187.94 ( 0.320%) | $188.54 |
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 | 191.61 | 1.63 % | |
| R2 | 190.20 | 0.88 % | ||
| R1 | 189.34 | 0.424 % | ||
| Current price: | 188.54 | |||
| Support | S1 | 186.53 | -1.06 % | |
| S2 | 185.67 | -1.52 % | ||
| S3 | 184.27 | -2.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 191.65 | 1.65 % | |
| R2 | 190.70 | 1.15 % | ||
| R1 | 189.34 | 0.424 % | ||
| Current price | 188.54 | |||
| Support | S1 | 184.65 | -2.06% | |
| S2 | 184.04 | -2.39% | ||
| S3 | 183.31 | -2.77% |
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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