Bears Appeared on Morgan Stanley

By Traders Huddle | October 03, 2012 AAA

New York, October 1st (TradersHuddle.com) - Shares of Morgan Stanley (NYSE:MS) ended the trading session lower by $0.1 or -0.59% from its previous close. Morgan Stanley's price action formed what is considered to be a bearish engulfing candlestick chart pattern.

Morgan Stanley (NYSE:MS) is a bank holding company that operates a global securities business which serves individual and institutional investors and investment banking clients. Morgan Stanley also operates a global asset management business.

Morgan Stanley's current stock range is determined by calculated support defined at $16.30 and by the resistance level at $18.50, which should be used by traders planning their next move.

If traders want to establish a position in Morgan Stanley, they need to pay close attention at the bearish engulfing pattern, since it could mark a trend reversal in the current price action. The Bearish engulfing pattern is a leading warning sign; therefore, traders should closely monitor Morgan Stanley for indications of a trend reversal. Below an Engulfing Bearish Candle Illustration:

{loadposition googlink}



You May Also Like

COMPANIES IN THIS ARTICLE
Related Analysis
  1. Stock Analysis

    There Are No Good And Bad Stocks, There's Only Good And Bad Timing

  2. Charts & Patterns

    Why These May Be the Top 4 Growth Stocks of 2015

  3. Stock Analysis

    Why the House (and Las Vegas Sands) Always Wins

  4. Chart Advisor

    Interested in Growth Stocks? See These 4 ETFs

  5. Mutual Funds & ETFs

    6 ETFs to Fight Your Recession Jitters

Trading Center