• Return to Headlines

Watch for Morgan Stanley to Potentially Pullback After Gaining 7.12% Yesterday

By Amy Schwartz

Morgan Stanley (NYSE:MS) traded in a range yesterday that spanned from a low of $56.00 to a high of $56.87. Yesterday, the shares gained 7.1%, which took the trading range above the 3-day high of $53.25 on volume of 16.7 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 $38.76 and a high of $56.87 and are now at $56.67, which is 46% above that low price. The 200-day and 50-day moving averages have moved 0.34% higher and 0.75% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Morgan Stanley on October 17th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $44.32. Since that recommendation, shares of Morgan Stanley have risen 19.4%. We continue to monitor MS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Morgan Stanley

Ticker(s): MS