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

By David Diaz

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. Yesterday's price range of $45.95 and $46.31 is within the prior day'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 32.8% based on a current price of $46.08 and analysts' consensus price target of $61.21. Morgan Stanley shares have support at the 200-day moving average (MA) of $44.91 and additional support at the 50-day MA of $42.65.

In the past 52 weeks, shares of Morgan Stanley have traded between a low of $36.74 and a high of $55.64 and closed yesterday at $46.08, which is 25% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has remained constant.

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.

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 am inside day candle Morgan Stanley

Ticker(s): MS