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Possible Bearish Inside Day Candle Pattern Detected for Morgan Stanley (NYSE:MS)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Morgan Stanley (NYSE:MS) based on the price action in the company's shares. Today's price range of $48.75 and $49.13 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Morgan Stanley may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 24.9% exists for Morgan Stanley, based on a current level of $49.03 and analysts' average consensus price target of $61.21. Morgan Stanley shares have support at the 50-day moving average (MA) of $43.88 and additional support at the 200-day MA of $43.42.

Morgan Stanley, a bank holding company, provides diversified financial services on a worldwide basis. The Company operates a global securities business which serves individual and institutional investors and investment banking clients. Morgan Stanley also operates a global asset management business.

In the past 52 weeks, Morgan Stanley share prices have been bracketed by a low of $36.74 and a high of $49.89 and are now at $49.03, 33% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 2.0%.

SmarTrend is tracking the current trend status for Morgan Stanley and will alert subscribers who have MS in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle Morgan Stanley

Ticker(s): MS