Morgan Stanley (NYSE: MS ) stock added $5.57 to its trading price on July 18. It opened trading at $87.54, dipped to $87.10, hit a high of $92.56, and closed trading at $91.94 with an intraday trading volume of 21.634 million.
In the monthly time frame, MS stock surged over 2-4%. The annual price target of the stock is $95.43, which is 3.80% more than the current trading price. In 52 weeks, MS stock’s lowest trading price was $74.67, and its highest was $100.99. .
Price Analysis of MS Stock
After analyzing the technical aspects of MS stock, it is evident that it is consolidating in the $80 to $91 range. The trading session of Tuesday reflected a majority of buyers compared to sellers.
Buyers are making an effort to surpass the uppermost range with a significant buying volume. Before the beginning of the last trading session, Morgan Stanley impressed its investors by reporting more revenue than the estimated figures.
Beating analysts’ estimated revenue is a soft signal that MS stock might reflect significant surges in the upcoming trading sessions. If buyers succeed in sustaining the prices above $91, then there are chances that it might show an upper trend which might be around its 52-week high.
It is assumed that if MS stock prices face rejection from $91, then sellers might get an opportunity to pull down the prices to $85. The next phase of the rally is possible once buyers break the $100 hurdle.
After analyzing MACD, it may be assumed that MS stock price will continue to be bullish in the coming sessions. RSI curves at 70, which denotes that the prices are in the overbought territory, so a minor retracement is possible.
Morgan Stanley (NYSE: MS) Earnings & Revenue
On July 18, 2023, Morgan Stanley(NYSE: MS) reported its Q2 revenue which was 3.37% more than the estimated figures. As per the estimations, the company was expected to report $13.02 billion, but it reported $13.46 Billion instead.
Similarly, in Q1 2023, the company reported 3.95% more revenue than the estimated figures. As per market analysts, the company was expected to report a revenue of $13.96 billion, but the reported revenue was $14.52 billion.
Morgan Stanley’s Earnings Per Share (EPS) showed an impressive hike in both Q1 and Q2 2023. The estimated EPS for both Q3 and Q4 2023 is $1.48.
According to TradingView, approximately 1.288 billion MS shares are free-floating, and the remaining 382.156 million are closely held by the company’s financial backers or by the board of directors.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/07/19/ms-stock-rose-5-54-intraday-aims-to-break-consolidating-zone/