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Look for Shares of Morgan Stanley to Potentially Pullback after Yesterday's 1.38% Rise

By Nick Russo

Morgan Stanley (NYSE:MS) traded in a range yesterday that spanned from a low of $42.80 to a high of $43.28. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $42.86 on volume of 5.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Morgan Stanley share prices have been bracketed by a low of $36.74 and a high of $59.38 and are now at $43.28, 18% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 0.5%.

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: rebounders Morgan Stanley

Ticker(s): MS