Morgan Stanley investors are not expecting anything overwhelming from earnings , the warning signs seemed evident as early as May, when JPMorgan's CEO Jamie Dimon projected that his company would see M&A and capital market revenues drop 10% in the second quarter, likely the result of clients postponing deals amid lingering trade policy concerns and a turbulent Brexit process. This is for sure going to be the case for all the banks this quarter.
On the positive side the management have claimed that its investment backlog is very solid, while the stock remains undervalued.
It seems that it is just too risky to get involved prior to earnings as the chart is technically looking weak, there is hope that the stock could break higher as it is in a very tight trading range wedged between Ma's.
LONG ABOVE $45
SHORT ON BREAK BELOW $43 WITH HEAVY VOLUME
On the positive side the management have claimed that its investment backlog is very solid, while the stock remains undervalued.
It seems that it is just too risky to get involved prior to earnings as the chart is technically looking weak, there is hope that the stock could break higher as it is in a very tight trading range wedged between Ma's.
LONG ABOVE $45
SHORT ON BREAK BELOW $43 WITH HEAVY VOLUME