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Morgan Stanley (MS) Approaches New Upside Target of $48.37

By Nick Russo

Morgan Stanley (NYSE:MS) has opened bullishly above the pivot of $47.77 today and has reached the first level of resistance at $48.05. Analysts will be watching for a cross of the next upside pivot targets of $48.37 and $48.97.

In the past 52 weeks, Morgan Stanley share prices have been bracketed by a low of $44.42 and a high of $59.38 and are now at $48.32, 9% above that low price. The 200-day and 50-day moving averages have moved 0.05% lower and 0.02% higher over the past week, respectively.

Potential upside of 26.7% exists for Morgan Stanley, based on a current level of $48.32 and analysts' average consensus price target of $61.21. Morgan Stanley shares should first meet resistance at the 50-day moving average (MA) of $49.01 and find additional resistance at the 200-day MA of $52.37.

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