(MSM) Trading Advice

November 03, 2024, 01:52 am ET, BY Barry C.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for MSM

• Buy MSM near 79.28 target 85.51 stop loss @ 79.05 Details

The technical summary data tells us to buy MSM near 79.28 with an upside target of 85.51. This data also tells us to set a stop loss @ 79.05 to protect against excessive loss in case the stock begins to move against the trade. 79.28 is the first level of support below 80.7 , and by rule, any test of support is a buy signal. In this case, support 79.28 is being tested, a buy signal would exist.

• Short MSM slightly under 85.51, target 79.28, stop loss @ 85.76 Details

The technical summary data is suggesting a short of MSM as it gets near 85.51 with a downside target of 79.28. We should have a stop loss in place at 85.76though. 85.51 is the first level of resistance above 80.7, and by rule, any test of resistance is a short signal. In this case, if resistance 85.51 is being tested, a short signal would exist.

Swing Trading Plans for MSM

• Buy MSM slightly over 81.63, target 85.51, Stop Loss @ 81.39 Details

If 81.63 begins to break higher, the technical summary data tells us to buy MSM just slightly over 81.63, with an upside target of 85.51. The data also tells us to set a stop loss @ 81.39 in case the stock turns against the trade. 81.63 is the first level of resistance above 80.7, and by rule, any break above resistance is a buy signal. In this case, 81.63, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short MSM slightly near 81.63, target 79.28, Stop Loss @ 81.87. Details

The technical summary data is suggesting a short of MSM if it tests 81.63 with a downside target of 79.28. We should have a stop loss in place at 81.87 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 81.63, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for MSM

• Buy MSM slightly over 81.63, target 81.91, Stop Loss @ 81.44 Details

If 81.63 begins to break higher, the technical summary data tells us to buy MSM just slightly over 81.63, with an upside target of 81.91. The data also tells us to set a stop loss @ 81.44 in case the stock turns against the trade. 81.63 is the first level of resistance above 80.7, and by rule, any break above resistance is a buy signal. In this case, 81.63, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short MSM slightly near 81.63, target 79.84, Stop Loss @ 81.82. Details

The technical summary data is suggesting a short of MSM if it tests 81.63 with a downside target of 79.84. We should have a stop loss in place at 81.82 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 81.63, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for Msc Industrial Direct Company Inc. (MSM) available here: MSM.

MSM Ratings for November 03:

Term →	Near	Mid	Long
Rating	Strong	Neutral	Weak
P1	0	0	72.8
P2	79.84	77.74	79.28
P3	81.91	81.63	85.51

AI Generated Signals for MSM

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This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in Msc Industrial Direct Company Inc. (NYSE: MSM) while incorporating prudent risk controls.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for MSM change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if MSM is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for MSM too.  All of these are offered below the Summary Table.