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Look for Shares of Morgan Stanley to Potentially Rebound after Yesterday's 2.91% Sell Off

By David Diaz

Morgan Stanley (NYSE:MS) traded in a range yesterday that spanned from a low of $44.81 to a high of $45.72. Yesterday, the shares fell 2.9%, which took the trading range below the 3-day low of $45.30 on volume of 4.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Morgan Stanley share prices have moved between a 52-week high of $48.90 and a 52-week low of $23.11 and are now trading 94% above that low price at $44.85 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%.

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