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Shares of Morgan Stanley Fall Below Previous 52-Week Low

By Shiri Gupta

Morgan Stanley (NYSE:MS) traded at a new 52-week low today of $43.91. So far today approximately 2.2 million shares have been exchanged, as compared to an average 30-day volume of 8.7 million shares.

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.

Morgan Stanley has overhead space with shares priced $44.13, or 27.9% below the average consensus analyst price target of $61.21. The stock should run into initial resistance at its 50-day moving average (MA) of $48.30 and subsequent resistance at its 200-day MA of $51.90.

Morgan Stanley share prices have moved between a 52-week high of $59.38 and the current low of $43.91 and are currently at $44.13 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.6% while the 200-day MA has slid 0.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Morgan Stanley on August 10th, 2018 by issuing a Downtrend alert when the shares were trading at $48.52. Since that call, shares of Morgan Stanley have fallen 8.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows Morgan Stanley

Ticker(s): MS