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Watch for Morgan Stanley to Potentially Rebound After Falling 4.31% Yesterday

By Nick Russo

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.

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.

Over the past year, Morgan Stanleyhas traded in a range of $41.25 to $59.38 and are now at $41.26. The 200-day and 50-day moving averages have moved 0.33% lower and 0.66% lower over the past week, respectively.

Keywords: rebounders Morgan Stanley

Ticker(s): MS