Morgan Stanley may rise to 110.30 - 112.20

Our pivot point stands at 99.7.

Our preference

As long as 99.7 is support look for 110.3.

Alternative scenario

The downside breakout of 99.7 would call for 96.4 and 94.5.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is trading under its 20 day moving average (103.2815) but above its 50 day moving average (99.8344).

Supports and resistances

114.2 **

112.2 *

110.3 **

108.3

103.21 (USD-last)

100.9

99.7 **

96.4 *

94.5 **

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