Morgan Stanley may fall to 81.20 - 83.70

Our pivot point is at 97.3.

Our preference

The downside prevails as long as 97.3 is resistance.

Alternative scenario

The upside breakout of 97.3 would call for 101.8 and 104.4.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 102.2645 and 99.457). Finally, Morgan Stanley is trading below its lower daily Bollinger band (standing at 94.24).

Supports and resistances

104.4 **

101.8 *

97.3 **

95.6

92.97 (USD-last)

86.3

83.7 **

81.2 *

78.6 **

Number of asterisks represents the strength of support and resistance levels.