• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Morgan Stanley (NYSE:MS)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Morgan Stanley (NYSE:MS) based on the price action in the company's shares. Today's price range of $40.49 and $41.00 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Morgan Stanley may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Morgan Stanley, a bank holding company, provides diversified financial services on a worldwide basis. The Company operates a global securities business which serves individual and institutional investors and investment banking clients. Morgan Stanley also operates a global asset management business.

Over the past year, Morgan Stanley has traded in a range of $27.20 to $57.57 and is now at $39.90, 47% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.7% while the 200-day MA has slid 0.2%.

Morgan Stanley has overhead space with shares priced $39.90, or 34.8% below the average consensus analyst price target of $61.21. Morgan Stanley shares should first meet resistance at the 50-day moving average (MA) of $43.17 and find additional resistance at the 200-day MA of $45.35.

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.

Keywords: bearish inside day candle Morgan Stanley

Ticker(s): MS