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}



Related Analysis
  1. Stock Analysis

    New Data Runs Counter - Ahead of Wall Street

  2. Stock Analysis

    Bear of the Day: Cimarex Energy (XEC) - Bear of the Day

  3. Stock Analysis

    Closing the Books on Q3 Earnings Season - Earnings Trends

  4. Stock Analysis

    Bull of the Day: Skyworks Solutions (SWKS) - Bull of the Day

  5. These stocks have been weak, and despite rallies, investors might be better served by selling or shorting as opposed to buying.
    Chart Advisor

    Time To Take Profits On These 4 Rallying Stocks?

Trading Center