MORGAN STANLEY Q1 PROFIT TOPS EXPECTATIONS, STOCK ABOVE ALL MAs

Morgan Stanley’s stock is currently trading at 47.47-higher by 0.98% as compared to the previous closing price. In the Premarket trading session, the stock was trading higher by 3.3%. The stock has pared some of its gains after the opening bell.

The bank reported its earnings for the first quarter before the market opened on Wednesday. Morgan Stanley’s profit topped market expectations due to better-than-expected results in wealth management and fixed-income trading. The bank generated EPS of $1.39 for the first quarter of 2019. The EPS was above the consensus estimates of $1.17. Revenue of $10.3 billion was above the market expectation of $9.94 billion.

Morgan Stanley posted $1.71 billion in bond trading revenue. The revenue was $200 million above the consensus estimates, as gains in credit trading helped offset weak government bond and currencies results. In its investment management division, the bank produced $804 million in revenue. The revenue was about $115 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 71.59% and suggests that the market can move in the upward direction.

 

TRADE SUGGESTION- LIMIT BUY AT 47.40 TAKE PROFIT AT 48.00 STOP LOSS AT 47.10

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