Morgan Stanley another big player in the financial world who is reporting its earnings tomorrow. Its expected to report an EPS of $1.75 on revenue of 14.03bn.

Morgan Stanley is another big player that is yet to release its earnings. Its share price sits roughly at $89.30 a share, on the 4 hourly timeframe we can see the price is approaching a key resistance level above at $90.07. A break and close above this price could in theory be seen as a ‘breakout’ and see the price rise higher, with the target then around $92.52. However, as the price has been rangebound since the 24^th of March, support can be found at $87.07 then at $85.47. A dip below $85.47 may see the price slide further toward a firm base resting at $83.22. Taking a look at the technical indicators, MACD is positive and so is RSI as it reads 75. Although, RSI is suggesting that the stock is trading at ‘overbought’ conditions. Hence, traders should be careful as a slight retracement could take place. Additionally, as Morgan Stanley is due to report earnings tomorrow, its stock price could remain rangebound until the release of the report.