Morgan Stanley: Expected To Move Past The $86 Resistance Level
2022.04.14 15:47
Today’s instrument is Morgan Stanley‘s stock traded on the NYSE exchange under the ticker MS.
As we see from the weekly chart below, MS fell from the $83 range down to $81, forming support and climbing back up to the $85.5 range. It reached as high as $86, returning to the $84 range where it last traded.
Morgan Stanley (NYSE:MS) has a scheduled quarterly earnings announcement today and if earnings expectations are surpassed, we could expect the price to move upwards, towards $89.
Meanwhile, we can expect a move towards and above $86, its closest temporary resistance level today. If, however, it doesn’t manage to hold onto the current level, then a move towards and below the $81 closest support level can be expected.
Morgan Stanley
