MSC Industrial Direct Company Inc Stock Forecast
MSC Industrial Direct Company Inc stock price ended at $91.44 on Thursday, after gaining 0.373%.
(Updated on Apr 18, 2024)
The MSC Industrial Direct Company Inc stock price gained 0.373% on the last trading day (Thursday, 18th Apr 2024), rising from $91.10 to $91.44. During the last trading day the stock fluctuated 1.24% from a day low at $90.77 to a day high of $91.90. The price has fallen in 7 of the last 10 days and is down by -4.25% for this period. Volume fell on the last day by -136 thousand shares and in total, 274 thousand shares were bought and sold for approximately $25.05 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $91.02 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -4.99% during the next 3 months and, with a 90% probability hold a price between $86.47 and $95.35 at the end of this 3-month period.
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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 0.373%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 $92.12 and $96.49. 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).
Support, Risk & Stop-loss for MSC Industrial Direct Company Inc stock
MSC Industrial Direct Company Inc finds support from accumulated volume at $91.36 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.13 between high and low, or 1.24%. For the last week, the stock has had daily average volatility of 1.61%.
MSC Industrial Direct Company Inc is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
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 Friday 19th
For the upcoming trading day on Friday, 19th we expect MSC Industrial Direct Company Inc to open at $91.37, and during the day (based on 14 day Average True Range), to move between $89.74 and $93.14, which gives a possible trading interval of +/-$1.70 (+/-1.86%) 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 3.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $91.36 (0.09%) than the resistance at $95.95 (4.93%), 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 negative signals and is within a wide and 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: -2.032 Sell Candidate Unchanged
Predicted Opening Price for MSC Industrial Direct Company Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $91.37 ( 0.0766%) | $91.44 |
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 | 92.50 | 1.16 % | |
| R2 | 92.07 | 0.687 % | ||
| R1 | 91.80 | 0.396 % | ||
| Current price: | 91.44 | |||
| Support | S1 | 90.94 | -0.549 % | |
| S2 | 90.67 | -0.84 % | ||
| S3 | 90.24 | -1.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 103.08 | 12.73 % | |
| R2 | 97.04 | 6.12 % | ||
| R1 | 95.95 | 4.93 % | ||
| Current price | 91.44 | |||
| Support | S1 | 91.36 | -0.0875% | |
| S2 | 91.10 | -0.372% | ||
| S3 | 0 | . |
MSM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 08, 2024 | Apr 08, 2024 | Apr 23, 2024 | $0.83 | 0.91% |
| 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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