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.
MSC Industrial Direct Co., Inc. is a North American distributor of a range of metalworking and maintenance, repair and operations (MRO) products and services. Its range of MRO products includes cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components and electrical supplies. It serves a range of customers throughout the United States, Canada, Mexico, and the United Kingdom, from individual machine shops to manufacturing companies to government agencies, such as the United States General Services Administration and the United States Department of Defense. It operates a network of six customer fulfillment centers, 10 regional inventory centers and 41 warehouses. The Company's customer fulfillment centers have various locations in the United States.
MSC INDUSTRIAL DIRECT CO., INC. 
