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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 $52.64 and $54.43 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, 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 11.7% exists for Morgan Stanley, based on a current level of $54.30 and analysts' average consensus price target of $60.66. 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.

Morgan Stanley share prices have moved between a 52-week high of $59.38 and a 52-week low of $23.11 and closed yesterday at 135% above that low price at $54.30 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has slid 0.9%.

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