Watch for Shares of Morgan Stanley (MS) to Approach Resistance at $32.42
Shares of Morgan Stanley (NYSE:MS) have bullishly opened above the pivot of $31.86 today and have reached the first resistance level of $32.10. Analysts will be watching for a cross of the next upside pivot targets of $32.42 and $32.98.
Morgan Stanley share prices have moved between a 52-week high of $41.04 and a 52-week low of $21.16 and are now trading 52% above that low price at $32.25 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has slid 0.9%.
Morgan Stanley has overhead space with shares priced $32.25, or 15.9% below the average consensus analyst price target of $38.34. The stock should discover initial support at its 200-day moving average (MA) of $30.57 and subsequent support at its 50-day MA of $25.74.
SmarTrend recommended that subscribers consider buying shares of Morgan Stanley on July 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $27.87. Since that recommendation, shares of Morgan Stanley have risen 14.1%. We continue to monitor MS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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