• Return to Headlines

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 $49.71 and $49.93 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.

Morgan Stanley (NYSE:MS) has potential upside of 23.1% based on a current price of $49.72 and analysts' consensus price target of $61.21. Morgan Stanley shares have support at the 50-day moving average (MA) of $45.20 and additional support at the 200-day MA of $43.81.

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 $49.98 and are now at $49.72, 35% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.3%.

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