Morningstar is a well-known global financial services firm that specializes in providing investment research and investment management services. The company has adopted a subscription and licensing model that brings in steady recurring revenues. It has diversified its business by entering the credit ratings business. Morning star is an influential and settled brand. Its prospects linked to performance of the stock market which is likely to increase over the long-term.
The long-term monthly chart of Morningstar shows a steady decade-long up-trend that speeded up starting 2017. The price reached a peak in November 2019 before falling more than 40% over the next four months. During that fall, the price broke the support level at $140 as well as the lower long-term trend-line.
In April, however, the price bounced back up about 38%. The price taken support at the same $140 zone that it had broken a few months back. The next likely price target is $163. Stop loss can be located somewhere below the $140 support zone.
Position taken today at $ 157.87 with stop loss 17.63% below at $130. With short-term take profit at $183 giving a return of 16%
On the video and images above you will see the reason this stock was selected.
You will see the image is of a monthly chart of the stock showing the long-term upwards trend formed over the years. You will also see the entry point and the where the stop loss is placed. For more information please watch the video given.
Once it is time to move the original stop loss up you will see an additional image.
If you are interested in purchasing the above stock please click here to view some trading platforms.