Morgan Stanley may rise to 110.00 - 111.60

Our pivot point stands at 101.9.

Our preference

The upside prevails as long as 101.9 is support.

Alternative scenario

The downside breakout of 101.9 would call for 99.3 and 97.7.

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 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 98.461 and 97.7344). Finally, Morgan Stanley has crossed above its upper daily Bollinger band (103.91).

Supports and resistances

113.2 **

111.6 *

110 **

108.4

104.64 (USD-last)

102.9

101.9 **

99.3 *

97.7 **

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