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Look for Shares of MSC Industrial Direct to Potentially Rebound after Yesterday's 4.35% Sell OffJan 10, 2013 (SmarTrend(R) News Watch via COMTEX) -- MSC Industrial Direct (NYSE:MSM) traded in a range yesterday that spanned from a low of $71.44 to a high of $74.15. Yesterday, the shares fell 4.4%, which took the trading range below the 3-day low of $76.77 on volume of 2.4 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision. In the past 52 weeks, shares of MSC Industrial Direct have traded between a low of $61.39 and a high of $84.76 and are now at $73.74, which is 20% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%. SmarTrend recommended that subscribers consider buying shares of MSC Industrial Direct on October 11th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $71.91. Since that recommendation, shares of MSC Industrial Direct have risen 7.1%. We continue to monitor MSM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |