Is MORGAN STANLEY Ready to Break Out of Its Range?

Our stockscreener has identified a possible breakout setup on MORGAN STANLEY (NYSE:MS). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NYSE:MS for potential opportunities.

Technical analysis of NYSE:MS

ChartMill assigns a Technical Rating to every stock. This score ranges from 0 to 10 and is updated daily. The score is determined by evaluating multiple technical indicators and properties.

Overall MS gets a technical rating of 9 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, MS is showing a nice and steady performance.

• The long and short term trends are both positive. This is looking good!
• Looking at the yearly performance, MS did better than 71% of all other stocks. On top of that, MS also shows a nice and consistent pattern of rising prices.
• MS is part of the Capital Markets industry. There are 219 other stocks in this industry. MS outperforms 74% of them.
• MS is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so MS is lagging the market slightly.
• In the last month MS has a been trading in the 90.94 - 103.05 range, which is quite wide. It is currently trading near the high of this range.

Our latest full technical report of MS contains the most current technical analsysis.

Why is NYSE:MS a setup?

Alongside the Technical Rating, ChartMill assigns a Setup Rating to evaluate the consolidation level of a stock. This rating, ranging from 0 to 10, is updated daily and considers various short-term technical indicators. The current setup rating for NYSE:MS is 8:

MS has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 101.63, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

How to trade NYSE:MS?

To potentially initiate a trade, it is common practice to wait for the stock to break out of the consolidation zone. This breakout signifies a potential upward movement, and traders may enter the stock at that point. Conversely, if the stock falls back below the consolidation zone, it may be sold at a loss.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Disclaimer

This article should in no way be interpreted as advice. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.