MS has earnings today and is gapping up in after hours (not a huge move but still could follow in pre-market). Volume profile is nice and clear with more then 800K shares and price action consolidated above 200sma with a smooth drifting pattern. Nice potential move up here touching hopefully 51
Earnings are always a crap shoot, but MS is like a little brother to GS. If GS missed, I expect MS to miss as well, and there's a gap underneath.
MS options premium is cheap, going all or nothing on April 18 puts. Safer play would be XLF puts.
MS is approaching resistance and it resistance holds then I’ll look for price to retest support at $43.50 before it continues bullish. If it breaks resistance then I’d look for a retest of resistance before taking buys
MS should easily beat earnings since it's a busy IPO season and they are one of the major banks to underwrite the coming public offerings. I know that they are underwriting Uber's coming IPO.
Feel free to provide constructive critique. I have loaded up on May $45-$46 call options. I am also holding GS call options.
Looking at Morgan Stanleys chart.
The SQZ indicator continues to turn hard green. Indicating further down side.
The stock has been ascending on descending volume. Bearish sentiment.
The MacD is about to have a bearish crossover.
The chart follows the bearish sentiment that is seen across the market.
Morgan Stanley shows very little growth potential even at the market dip. While it still a conservative hold for potential long term positions, the amount of risk is outrageous right now. Even after hiring of a new Chief Investment Officer and upgraded management, it looks like a strong sell off is definitely a market recommendation for Morgan Stanley as it is...
Waiting on an entry for Morgan Stanley. 52 week low in weak bullish posture. We should back test 200 day support and reach for highs in January and Feb. Long term support is at 40 flat.. This may fall to below support briefly.