MSC Industrial Direct Co., Inc. : Technical rebound ahead ?
Entry price | Target | Stop-loss | Potential |
---|
$70.28 |
$0 |
$69.2 |
-100% |
---|
MSC Industrial Direct Co’s share price was heavily penalized and is now in an oversold situation near to a solid support area.
Despite a current standstill of the profitability, sales and dividend are expected to keep growing. There is a +6.5% potential to reach the consensus average price target. The stock is in an oversold situation.
Technically, after several months of fall, the share is presently in the area of a main support, which is significant in the short term as well as in the long term. Moreover, the closeness of the lower trend line will very likely prevent the stock from collapsing. In such a configuration, a technical rebound seems very probable.
Consequently, most daring investors may open a long position at current price and target the USD 73.8 pivot point as a first goal and by extension the trendline at USD 75. A stop loss should be set below the USD 70.15 support which breakthrough would mean a further correction.
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