Morgan Stanley Towards Test of Key Resistance

Morgan Stanley (NYSE: MS) continues yesterday’s surge off of the bullish confluence EMA’s that bunched together just above 29.00, and which has helped to catapult the price structure towards a test of key resistance at 31.00/10. Purely from a technical perspective, the future of near- and perhaps intermediate-term price direction in MS will be determined by either a thrust above the Oct-Mar down trendline (31.00), or a violation of 29.00. Right now, the weight of evidence argues for a challenge of 31.00.

  Matched “”
x
Try Us Free For 14 Days!
  • In our live, interactive Trading Room, we identify trading opportunities in ...
  • Equity Index Futures
  • Index & Sector ETFs
  • Individual Stocks
  • Precious Metals
  • Energy
  • Forex
  • Treasuries
  • International Markets
  • And Much More
Join MPTrader Now!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!