Daily Stock Report

Morgan Stanley - (MS) - May 25, 2021 

Morgan Stanley* (MS) climbed two spots within the SIA S&P 100 Index Report to finish in 7th place. Since returning to the Green Favored Zone in November of 2020, MS shares have gained 52.5%.  

Since clawing back all of its COVID crash losses and completing a bullish Ascending Triangle pattern last fall, Morgan Stanley* (MS) shares have remained under accumulation, steadily advancing in a step pattern of rallies followed by periods of consolidation at higher levels. Yesterday, the shares broke out to a new all-time high signaling the start of a new rally phase that would be confirmed by a breakout over the $90.00 round number. 

Based on measured moves from previous trading ranges, potential upside resistance tests on trend appear near $96.00, $106.00, and $115.00 on trend, along with the $100.00 round number. Initial downside support appears at the 50-day moving average near $82.00. 

*Morgan Stanley is held in some portfolios managed by SIA Wealth Management

Earlier this month, Morgan Stanley* (MS) completed a bullish Double Top breakout, signaling the start of a new upleg within the primary uptrend that started in March of 2020. A new all-time high close yesterday confirms that accumulation continues. 

Horizontal counts suggest potential upside resistance tests on trend may appear near $96.65 or $111.00, along with the $100.00 round number, and $120.20 based on a vertical count from a previous high pole. Initial support appears near $82.50 where a 3-box reversal and a retest of the recent breakout point converge. 

With a bullish SMAX score of 9, MS is exhibiting near-term strength against the asset classes.

*Morgan Stanley is held in some portfolios managed by SIA Wealth Management

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