Morgan StanleyLong
Morgan Stanley grows after strong earnings
After a strong earnings and revenue surprise, the stock of Morgan Stanley is on fire, having broken the long-term trading range and accelerating for more than 3 values of ATRs (average volatility levels) from the dynamic support.
Usually, that's an indication of a strong price discovery and can lead to a further extension of the price in the direction of a breakout. Most probably, first it needs to pull back to the 20-day moving average before proceeding to the upside.
Note: The market is driven higher ahead of US elections, but Nov 1-2 is a potential high-volatility period, so beware of that in case of holding any positions over this period.
Don't forget to manage your risk at all times!
Usually, that's an indication of a strong price discovery and can lead to a further extension of the price in the direction of a breakout. Most probably, first it needs to pull back to the 20-day moving average before proceeding to the upside.
Note: The market is driven higher ahead of US elections, but Nov 1-2 is a potential high-volatility period, so beware of that in case of holding any positions over this period.
Don't forget to manage your risk at all times!
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