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Morgan Stanley (MS) Approaches New Upside Target of $46.47

By James Quinn

Shares of Morgan Stanley (NYSE:MS) opened today above their pivot of $46.11 and have already reached the first level of resistance at $46.28. Investors may be interested in a cross of the next upside pivot targets of $46.47 and $46.83.

Over the past year, Morgan Stanley has traded in a range of $36.74 to $55.64 and is now at $46.57, 27% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has remained constant.

Potential upside of 31.4% exists for Morgan Stanley, based on a current level of $46.57 and analysts' average consensus price target of $61.21. The stock should find initial support at its 200-day moving average (MA) of $44.91 and further support at its 50-day MA of $42.65.

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: pivot alerts Morgan Stanley

Ticker(s): MS