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

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Morgan Stanley (NYSE:MS) based on the price action in the company's shares. Yesterday's price range of $47.40 and $48.04 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. Traders and investors interested in shares of Morgan Stanley may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Morgan Stanley have traded between a low of $43.84 and a high of $59.38 and closed yesterday at $47.86, which is 9% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has remained constant.

Morgan Stanley has overhead space with shares priced $47.86, or 21.8% below the average consensus analyst price target of $61.21. Morgan Stanley shares should first meet resistance at the 50-day moving average (MA) of $49.58 and find additional resistance at the 200-day MA of $52.46.

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 monitoring the recent change of momentum in Morgan Stanley. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Morgan Stanley in search of a potential trend change.

Keywords: bullish am inside day candle Morgan Stanley

Ticker(s): MS