Morgan Stanley may rise to 107.50 - 110.00

Our pivot point stands at 96.1.

Our preference

The upside prevails as long as 96.1 is support.

Alternative scenario

The downside breakout of 96.1 would call for 92.2 and 89.7.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 95.337 and 92.417).

Supports and resistances

112.4 **

110 *

107.5 **

105.1

100.22 (USD-last)

97.7

96.1 **

92.2 *

89.7 **

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