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SmarTrend Watching for Potential Rebound in Shares of Morgan Stanley After 2.91% Loss

By James Quinn

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.

Over the past year, Morgan Stanley has traded in a range of $23.11 to $48.90 and is now at $44.85, 94% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has advanced 0.8%.

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