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SmarTrend Watching for Potential Pullback in Shares of Morgan Stanley After 7.00% Gain

By David Diaz

Morgan Stanley (NYSE:MS) traded in a range yesterday that spanned from a low of $33.33 to a high of $36.15. Yesterday, the shares gained 7.0%, which took the trading range above the 3-day high of $33.38 on volume of 13.6 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, shares of Morgan Stanley have traded between a low of $27.20 and a high of $57.57 and are now at $36.45, which is 34% above that low price. The 200-day and 50-day moving averages have moved 0.37% lower and 2.54% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Morgan Stanley on February 24th, 2020 by issuing a Downtrend alert when the shares were trading at $50.15. Since that call, shares of Morgan Stanley have fallen 32.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders Morgan Stanley

Ticker(s): MS