Current
After yesterday’s close, the investment bank’s shares fell by over 0.3%.
In the ongoing downtrend, the price had last reached a low of $101.28 and has since risen by over 18% at times.
The reason for the increase was the slightly higher-than-expected earnings reported by analysts on Oct. 14. were published.
For example, earnings per share for the third quarter of 2022 were estimated at $2.90/share, but were $3.12/share.
This represents a change of around -20% compared with the prior-year quarter, but the share price fell by 42% in the period.
In addition, the company has announced a dividend payment to shareholders for Oct. 31. decided,
which caused the share price to rise additionally. The dividend yield of the share is therefore now almost 3.5%.
Analysis
In the current downtrend since October 2021, the price recently marked a high at around $120.00, breaking the downtrend.
As a result, the price secured a relevant support in the area around $116. The next resistance can be seen in the $124.00 area.
Should the price continue to stay above the support and respect it,
this can be interpreted as a bullish signal and further rises to above $130.00 could occur.
Otherwise, the price could fall back to the support, near which it is currently also.
If this is breached, we could see a further descent to below $112.00.
