New York, February 22nd (TradersHuddle.com) - Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) booked a new 52 week high today by trading above $81.15, traders are definitely monitoring MSC Industrial's price action to see if this move attracts further buying into the stock.
MSC Industrial Direct Co., Inc. (NYSE:MSM) is a supplier and direct marketer of a broad range of metalworking and maintenance and repair supplies. The Company markets its products to industrial customers throughout the United States. The company is one of the largest industrial equipment distributors in the world and it publishes the famous "The Big Book", a catalog detailing the its thousands of products.
MSC Industrial is currently trading -0.41% versus its previous trading session close, and it has calculated support and resistance at $64.98 and $77.25 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range
The overall market index S&P 500 is trading lower by -0.42% from its previous trading close, which means that MSC Industrial stock is outperforming the overall market.
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