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Morgan Stanley Set to Possibly Rebound After Yesterday's Selloff of 3.77%

By James Quinn

Morgan Stanley (NYSE:MS) traded in a range yesterday that spanned from a low of $37.37 to a high of $38.28. Yesterday, the shares fell 3.8%, which took the trading range below the 3-day low of $39.20 on volume of 4.4 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Morgan Stanley share prices have moved between a 52-week high of $57.57 and a 52-week low of $27.20 and are now trading 36% above that low price at $36.96 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.8% while the 200-day MA has slid 0.2%.

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: rebounders Morgan Stanley

Ticker(s): MS