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.%
1.1471
-0.0051
0.4465%
1.2992
-0.0080
0.6089%
14.688
0.054
0.372%
69.070
-0.210
0.304%
79.22
-0.61
0.76%
1231.765
5.060
0.412%
 
 
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