Morgan Stanley breaches current support - Analysis - 14-08-2018

Morgan Stanley's stock trespassed the support of 47.67, representing the ratio 61.8% of Fibonacci retracement levels for an ascending wave in the medium term (from 40.43 to 59.38), recording a loss of 2.15% in the last session, or 1.04 points, while trading within a descending correctional price channel in the short term, with negative pressure from the 50-day SMA. 

Therefore we expect more losses for the stock, especially if the support of 47.67 was breached, targeting the next one at 44.90, which represents the ratio 76.4% of the same retracement levels mentioned above.