Morgan Stanley Stock Code MS.NYS
Buy at $48.90. Stop at $45.80 and target at $56.10
Outlook
Price broke above the cloud on 26 May 2020 and reached a high of $51.85 on 5 June 2020. After reaching this high, a price correction bought price to a low of $44.44, which was also above the Ichimoku cloud, maintaining the bullish trend. On Friday, price pushed higher with a strong and big candle. Conversion line and Base line have a bullish crossover on Friday, hinting of an to the correction and the start of the bullish trend. Lagging Span is above price of 26 days ago and also above the cloud as well, confirming a strong bullish trend. MACD is bullish confirming a bullish trend ahead with a possible bullish crossover soon. We are expecting price to test the previous high of $56.15.
Strategy
$48.90 Buy
$56.10 Price Target
$45.80 Risk Management Stop
3 weeks Trade Duration
