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SmarTrend Watching for Potential Rebound in Shares of Morgan Stanley After 4.31% Loss

By Shiri Gupta

Morgan Stanley (NYSE:MS) traded in a range yesterday that spanned from a low of $41.25 to a high of $42.04. Yesterday, the shares fell 4.3%, which took the trading range below the 3-day low of $42.32 on volume of 3.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Morgan Stanley have traded between the current low of $41.25 and a high of $59.38 and are now at $41.26. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.7%.

SmarTrend recommended that its subscribers protect gains by selling shares of Morgan Stanley on August 10th, 2018 by issuing a Downtrend alert when the shares were trading at $48.52. Since that call, shares of Morgan Stanley have fallen 11.1%. 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