Watch for Shares of Morgan Stanley (MS) to Approach Support at $26.40
Shares of Morgan Stanley (NYSE:MS) opened today below their pivot of $26.87 and have already reached the first level of support at $26.62. Should the shares continue to fall, the support pivots of $26.40 and $25.93 will be of interest.
Over the past year, Morgan Stanley has traded in a range of $15.95 to $29.50 and is now at $26.77, 68% above that low. The 200-day and 50-day moving averages have moved 0.50% higher and 0.19% lower over the past week, respectively.
Morgan Stanley (NYSE:MS) has potential upside of 13.0% based on a current price of $26.77 and analysts' consensus price target of $30.24. The stock should hit resistance at its 50-day moving average (MA) of $27.07, as well as support at its 200-day MA of $24.21.
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.
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