Morgan Stanley collects profits - Analysis - 17-08-2022

Morgan Stanley's stock (MS) fell in the intraday levels on profit-taking, while gathering momentum to rise anew, and venting off overbought saturation in the RSI, marking a loss of 0.22% in the last session, or 20 cents, and settling at 91.82, while buoyed by a positive pattern that formed in the short term, the Falling Wedge pattern, with positive support from the 50-day SMA.

Therefore we expect the stock to return higher, targeting the pivotal resistance of 94.90, provided the support of 86.80 holds on.

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Expected trend for today: Bullish