Morgan Stanley falls within descending price channel - Analysis - 16-08-2018

Morgan Stanley's stock kept falling in the intraday levels, while trading within a descending correctional price channel that limited recent short-term trading, recording thereafter a loss of 0.86%, or 0.41 points, and confirming the breach of the 47.67 support, representing the ratio 61.8% of Fibonacci retracement levels for an ascending wave in the medium term (from 40.43 to 59.38). 

Therefore we expect more losses for the stock, as long as it settles below 47.67, targeting the support of 44.90, which represents the ratio 76.4% of the same retracement levels.