Economies.com provides the latest technical analysis and forecast of the american stocks, in order to keep track of the trend of the US stocks.
Morgan Stanley's stock (MS) rose in the intraday levels, while settling below the resistance 49.91, representing the ratio 50% of Fibonacci retracement levels for an ascending wave in the short term (from 40.43 to 59.38), scoring thereafter a profit of 0.57% in the last session, or 0.28 points, with negative pressure from the 50-day SMA, while the RSI reached extremely overbought levels, hinting at negative divergence in the Stochastic indicator as shown below the attached chart.
Therefore we expect the stock to return lower, as long as the resistance of 49.91 holds on, targeting the support of 47.67, which represents the ratio 50% of the same retracement levels mentioned earlier.