Morgan Stanley tries to stimulate positive momentum - Analysis - 27-05-2016

Morgan Stanley's stock fell in the intraday levels, recording a loss of 1.3% in the last session, or 0.36 points, with traders taking profits of the past short-term rises, while the stock tries to gather positive momentum to help it rise again and keep up the upward correctional short-term trend as it trades along the trend line as shown in the attached chart, with ongoing positive pressure from the SMA for the last 50 days period. 

Therefore we expect the stock to return higher in the coming trading, targeting the resistance of 28.75, which represents the ratio 38.2% of Fibonacci retracement levels for a descending wave in the medium term (from 41.04 to 21.16).