SIA Chartsā relative strength rankings help investors identify stocks that are outperforming their peers or index benchmarks, often reflecting improved investor expectations for a company or sector's growth. Today, we highlight an exciting new entry into the Green Favored Zone of the S&P 100 Index Report: Morgan Stanley (MS). After a remarkable four-year base, Morgan Stanley has transitioned from the Red Zone through the Neutral Yellow Zone and now emerges in the Green Favored Zone of the SIA S&P 500 Index report, offering compelling risk-reward parameters for investors. As of yesterday, Morgan Stanley has climbed to 25th place, advancing 12 spots in the last month. The stock has been in a quieting ticking along for most of 2024 only to break out of a consolidation phase of late and surpassing long-term resistance levels. This has resulted in gains of +7.15% for the month and +14.64% for the last quarter. This week, Morgan Stanley reached a new high once again, surpassing the psychological $100.00 mark, suggesting that accumulation is accelerating. Potential resistance levels are seen in the $115.00-$135.00 range, with initial support near $95.00, the recent breakout point.
The Point and Figure chart highlights the solid base formed under Morgan Stanleyās shares and indicates that the former resistance at $100.96 has now become a support zone between $100.00 and $97.04. Vertical counts suggest new resistance at $118.29 and further at $135.88. The proximity to the long-term trend line also strengthens the stockās risk-reward profile. Morgan Stanleyās impressive performance is underscored by a perfect SMAX score of 10 out of 10, reflecting exceptional short-term strength compared to other asset classes. This continued positive sentiment and robust performance make Morgan Stanley a standout in the current market environment.
Disclaimer: SIACharts Inc. specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investors investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIACharts Inc. nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.
