According to persons with knowledge of the matter, cited by the Wall Street Journal, Morgan Stanley (MS) is considering a move to Hudson Yards, a huge development site on Manhattans West Side.
Morgan Stanley shares registered their largest daily surge since February 3rd on Thursday. The stock went up 2.14% ($0.94) to $44.85, after touching a daily high at $45.03, which also matched the high from February 7th. In the week ended on February 5th the shares of the financial holding company added 1.79% to their market value compared to a week ago, which marked a second consecutive period of gains, but yet, the smallest increase since the week ended on December 25th. The stock has extended its advance to 5.55% so far during the current month, following a 0.57% increase in January. The latter has been a fourth consecutive monthly gain, but yet, the smallest one since July 2015. For the entire 2016, Morgan Stanley shares gained 32.82%.
The financial holding was planning to buy the 2 million square feet that remain at 50 Hudson Yards, the WSJ reported.
The largest asset manager worldwide, BlackRock Inc, is also said to be planning a move of its headquarters from midtown Manhattan to a new office building located in the Hudson Yards district. The money manager is expected to re-locate its headquarters in 2022, according to information provided by Hudson Yards tower developers in December.
Daily and Weekly Pivot Levels
With the help of the Camarilla calculation method, todays levels of importance for the Morgan Stanley stock are presented as follows:
R1 – $44.95
R2 – $45.06
R3 (Range Resistance – Sell) – $45.16
R4 (Long Breakout) – $45.48
R5 (Breakout Target 1) – $45.84
R6 (Breakout Target 2) – $46.01
S1 – $44.75
S2 – $44.64
S3 (Range Support – Buy) – $44.54
S4 (Short Breakout) – $44.22
S5 (Breakout Target 1) – $43.86
S6 (Breakout Target 2) – $43.69
By using the traditional method of calculation, the weekly levels of importance for Morgan Stanley (MS) are presented as follows:
Central Pivot Point – $43.62
R1 – $45.41
R2 – $46.39
R3 – $48.18
R4 – $49.97
S1 – $42.64
S2 – $40.85
S3 – $39.87
S4 – $38.89
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