Morgan Stanley may rise to 116.80 - 119.30

Our pivot point is at 104.

Our preference

The upside prevails as long as 104 is support.

Alternative scenario

The downside breakout of 104 would call for 99.9 and 97.5.

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 above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 103.161 and 100.59).

Supports and resistances

121.8 **

119.3 *

116.8 **

114.4

109.04 (USD-last)

105.6

104 **

99.9 *

97.5 **

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