Morgan Stanley reported better than expected earnings yesterday and after testing a low of 27.59, rallied all day to above 29. The technical setup looks bullish and it is already up 2.5% this morning. Although it is a little hard to initiate a new position right here after such a run up… I do believe it has further upside. One an take a small position now and then add to it depending on the price action. A stop-loss at 27.50 should be in place.
– DevTrade (Full Disclosure: Long MS Feb 29 calls at the time of writing)