Morgan Stanley - Daily

Morgan Stanley is yet another major player who's earnings are due to be released on Friday. Indicators are currently suggesting a bearish position.

Morgan Stanley is yet another big player who's earnings are due to be relased this Friday. The stock's shares are currently trading at $78.40 with the first support level sitting at $75.62. A negative report may lead to further losses in price towards the major support base at $72.06, correlating with the lower trendline of the channel as presented within the chart. However, a positve earnings report on Friday could result in a hike towards the resitance level sitting at $81.89. A break above this resitance level could lead to further gains for the stock with the next resitance sitting at $84.74. Looking at the indicators, MACD is currently negative and RSI reads 37, overall suggesting a negative stance.