After Yesterday's Rally of 2.38% Shares Could Potentially Pullback
Morgan Stanley (NYSE:MS) traded in a range yesterday that spanned from a low of $26.28 to a high of $26.79. Yesterday, the shares gained 2.4%, which took the trading range above the 3-day high of $26.50 on volume of 5.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Morgan Stanley share prices have moved between a 52-week high of $41.04 and a 52-week low of $21.16 and are now trading 26% above that low price at $26.74 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has advanced 0.8%.
SmarTrend recommended that subscribers consider buying shares of Morgan Stanley on February 26th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $25.22. Since that recommendation, shares of Morgan Stanley have risen 3.5%. We continue to monitor MS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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