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Morgan Stanley’s stock is currently trading at 44.32-higher by 3.58% as compared to the previous closing price. In the Premarket trading session, the stock was trading higher by 3.88%. The stock has pared some of its gains after the opening bell.
The bank reported its earnings for the third quarter before the market opened on Thursday. Morgan Stanley’s profit topped market expectations due to better-than-expected results in trading and advisory businesses. The bank generated an EPS of $1.21 for the third quarter of 2019. The EPS was above the consensus estimates of $1.12. Revenue of $10.03 billion was also above the market expectation of $9.61 billion.
Morgan Stanley posted $1.43 billion in bond trading revenue. The revenue was $320 million above the consensus estimates, supported by strong activity in credit and government bonds in the quarter. In its investment banking division, the bank produced $1.54 billion in revenue. The revenue was $120 million more than the market expectation.
On the technical front, the current price is above the MA5. The current price is above the middle line of the Bollinger Bands and is heading upwards. The RSI is currently at 65.05% and suggests that the market can move in the upward direction.
TRADE SUGGESTION- LIMIT BUY AT 44.20 TAKE PROFIT AT 44.80 STOP LOSS AT 43.90