Morgan Stanley Stock Slumped 12%, Is MS Stock Price Discounted?
The post Morgan Stanley Stock Slumped 12%, Is MS Stock Price Discounted? appeared on BitcoinEthereumNews.com.
Morgan Stanley stock price witnessed a sharp selling in the recent sessions after suffering rejection from a 200-day EMA. The MS stock price slumped 12% in the last two weeks and made a breakdown from the symmetrical triangle pattern formed over the daily chart. Morgan Stanley specializes in financial services. The company provides investment banking products and services to clients and customers including corporations, financial institutions, and governments. The MS company is yet to announce quarterly results on Wednesday, 18th October. The Wall Street analysts are expecting the company to deliver a better quarter as compared to the previous one. Analysts expect the company to deliver a revenue of $13.26 Billion and the earnings to be $1.329. The price trend analysis illustrates that the MS stock price has been volatile with major ups and downs in the last three quarters. The stock price has been illustrating a sideways trend forming a symmetrical triangle pattern over the daily chart. Recently, the Morgan Stanley stock experienced the breakdown of the lower trendline support of the symmetrical triangle pattern. The price halted near the immediate support of $77; possibly awaiting the quarterly results. An optimistic quarterly result may invite more investors and the stock price may show gains. Moreover, disappointing quarterly results might drag the price to the lower levels, thus, continuing with the ongoing trend. Source: barchart.com Morgan Stanley stock derivatives data analysis states that the current implied volatility in the market is 31.86% with an increment of 0.53% in the last trading session. The at-the-money strike price has 1118 open contracts on the PUT side and 1444 open contracts on the CALL side indicating the dominance of sellers at the CMP. Morgan Stanley Stock Price Forecast For 2023 The average analyst price target for Morgan Stanley stock in 2023 is $96.57…
Filed under: News - @ October 10, 2023 7:08 pm