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

By James Quinn

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. Today's price range of $40.97 and $41.71 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. 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, Morgan Stanley share prices have been bracketed by a low of $21.16 and a high of $47.33 and are now at $41.69, 97% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has advanced 0.8%.

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.

Potential upside of 15.4% exists for Morgan Stanley, based on a current level of $41.69 and analysts' average consensus price target of $48.12. The stock should discover initial support at its 200-day moving average (MA) of $30.57 and subsequent support at its 50-day MA of $25.74.

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: bullish inside day candle Morgan Stanley

Ticker(s): MS