We are trimming a large position to take some profits in this overbought market

  • 📰 CNBC
  • ⏱ Reading Time:
  • 26 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 31%
  • Publisher: 72%

Morgan Stanley News

Jim Cramer,Investment Strategy,Markets

Our favorite gauge of market sentiment is telling us to take some gains.

We are selling 150 shares of Morgan Stanley at roughly $94.18. Following the trade, Jim Cramer's Charitable Trust will own 1,250 shares of MS, decreasing its weighting to about 3.80% from 4.20%. We like to refer to the Oscillator to help figure out the market's pulse. This technical tool entered the week in slightly overbought territory at 4.45%. As a reminder, a reading of 4% or more means the market is technically overbought, and a reading of less than minus 4% means it is oversold.

Shares of the wealth management and investment banking company are trading near their 2024 high and are within a whisker of taking out its 52-week high going back to July. A rebound in investment banking activity like M & A and initial public offerings has helped the stock recover from its time in the $70s and $80s. But we're still looking for more confidence in the wealth management unit's ability to gather assets toward its $10 trillion long-term goal and expand its margins to 30%.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines