Q4 2022 Earnings Report
The Q4 earnings season has been interesting, mainly because of the turbulent global economic outlook. On this premise, analysts forecast a disappointing performance for several stocks ahead of the Q4 earnings report publishing.
Goldman Sachs - GS
As seen in the chart above, GS stock is currently approaching the daily resistance level despite being in an uptrend (as deduced from the Moving Averages), which means there is a real chance the stock will react under the gloomy forecasts. Should this be the case, we may see rates drop as much as $345 in the near future.
Morgan Stanley - MS
From a strictly technical point of view, Morgan Stanley is preparing for a drop. This bias is based on the recent reaction from the daily resistance area, which broke the structure downwards before bouncing off the 200-Day Moving Average. If the price follows this reaction, we could see rates slide toward $86 even though the Moving Average crossover suggests a bullish trend in the longer term.
CONCLUSION
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