Home / Business / J.P Morgan's rivals does not want to be able to catch up with soaring stock: Expert

J.P Morgan's rivals does not want to be able to catch up with soaring stock: Expert



One big bank is not like the other.

"We need to make those break topside of that, start to reverse some of those downtrends and so move some of those declining moving averages for this to a more sustainable Morgan Stanley.

"When I look at this, we've already done the reversal reversal," Johnson, who runs Piper Jaffray's technical research group, said in the same. Trading Nation "interview. [19659003]

"We're starting to see that this stock has been putting in some very low levels, some lower lows, lower highs in here, and it's really starting to reverse the down trend," he said. "To me, Morgan Stanley's the most attractive-looking name of those names that are going to be reporting next week, so … that would be the one we're focusing on right now."

Shares of Morgan Stanley gained over 4 percent in Friday's trading session. The company is expected to report earnings on April 17.

Disclosure: Joule Financial has positions in J.P. Morgan and Wells Fargo. Piper Jaffray makes a sale of the Citigroup on a principal basis.


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