• Return to Headlines

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

By Nick Russo

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 $52.56 and $53.30 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.

Morgan Stanley (NYSE:MS) is currently priced 0.3% above its average consensus analyst price target of $52.73. The stock should find initial support at its 200-day moving average (MA) of $30.57 and further support at its 50-day MA of $25.74.

Morgan Stanley share prices have moved between a 52-week high of $54.25 and a 52-week low of $23.11 and closed yesterday at 129% above that low price at $52.88 per share. The 200-day and 50-day moving averages have moved 0.87% lower and 0.83% higher over the past week, respectively.

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 recommended that subscribers consider buying shares of Morgan Stanley on September 18th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $47.21. Since that recommendation, shares of Morgan Stanley have risen 11.2%. We continue to monitor MS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle Morgan Stanley

Ticker(s): MS