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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 $43.76 and $44.33 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.

There is potential upside of 9.6% for shares of Morgan Stanley based on a current price of $44.18 and an average consensus analyst price target of $48.44. Morgan Stanley shares have support at the 200-day moving average (MA) of $30.57 and additional support at the 50-day MA of $25.74.

In the past 52 weeks, Morgan Stanley share prices have been bracketed by a low of $23.11 and a high of $47.33 and are now at $44.18, 91% above that low price. Over the past week, 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.

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