Morgan Stanley driven lower by descending correctional wave - Analysis - 13-06-2018
2018-06-13 12:24:50 GMT (Economies.com)
Morgan Stanley driven lower by descending correctional wave - Analysis - 13-06-2018
 

Morgan Stanley's stock (MS) fell in the intraday levels, recording a new loss of 0.89% in the last session, or 0.46 points, while settling below the resistance of 52.14, which represents the ratio 38.2% of Fibonacci retracement levels for an ascending wave in the short term (from 40.43 to 59.38), with negative pressure from the 50-day SMA. 

 

Therefore we expect more losses for the stock, as long as the resistance of 52.14 holds on, targeting the next support at 49.91, which represents the ratio 50% of the same retracement levels. 

 
 
 
  Symbol Last Change Chg.%
1.1379
0.0000
0.0013%
1.2715
-0.0030
0.2389%
14.751
-0.559
3.655%
65.390
-2.400
3.540%
71.49
0.37
0.52%
1179.595
-31.705
2.617%
 
 
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