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Morgan Stanley Falls 2.30% on Heavy Volume: Watch For Potential Rebound

By David Diaz

Morgan Stanley (NYSE:MS) traded in a range yesterday that spanned from a low of $47.90 to a high of $48.44. Yesterday, the shares fell 2.3%, which took the trading range below the 3-day low of $49.06 on volume of 827,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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.

In the past 52 weeks, shares of Morgan Stanley have traded between a low of $36.74 and a high of $49.98 and are now at $47.95, which is 31% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.5%.

Keywords: rebounders Morgan Stanley

Ticker(s): MS