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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. Today's price range of $41.75 and $42.10 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.

Morgan Stanley share prices have moved between a 52-week high of $47.33 and a 52-week low of $21.16 and are now trading 98% above that low price at $41.96 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%.

Potential upside of 14.7% exists for Morgan Stanley, based on a current level of $41.96 and analysts' average consensus price target of $48.12. 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, 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: bullish inside day candle Morgan Stanley

Ticker(s): MS