$MSCI has been consolidating in this wedge since 2021 and this is a common sight for a long Wave 4, especially as the price holds above the 0.38 Fib.
Margins here look fantastic, with a net profit margin of 44%
If the wedge is lost then this can move down to the 0.5 Fib at least to $351....staying in the wedge and this can break to the upside for Wave 5 as shown.