The Greedy Trader Weekly Analysis
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Uptrend Broken Support

Uptrend Broken Support stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Uptrend Broken Support alert is a confirmation that long term uptrend reversal is completed and a new downtrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of support trendline. This point is considered as a second chance to sell long position (or open short positions) in uptrend reversal.

Uptrend Broken Support

Archive
- 3/15/2024 -
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Morgan Stanley (MS) Technical Analysis

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Summary:
Weekly :Overbought sectorTrend resistance at 87.59Price is near the Fibonacci 23.6% retracement level
Daily :Broken trend resistance linePrice has crossed above the 50 Day Moving Average
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It was a second consecutive positive week for the Morgan Stanley (MS). During the week, the MS gained 1.34 points, or 1.54%, and closed at 88.38 on Friday, March 15, 2024. It was the best weekly gain since January 26, 2024. MS was trading at average weekly trading volume.

MS is a member of Financials Sector. Financials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See MS long-term trend chart]
A long-term downtrend had started on February 14, 2023 at 100.99 and reached 69.42 on October 30, 2023. MS lost 31.57 points, or 31.26%, in 36 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (87.59). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See MS medium-term trend chart]
A medium-term uptrend had started on October 30, 2023 at 69.42 and reached 94.15 on January 2, 2024. MS gained -24.73 points, or -35.62%, in 9 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Weekly Technical Indicators: [See MS weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since December 1, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.

Short-term trend: [See MS short-term trend chart]
A short-term downtrend had started on January 2, 2024 at 94.15 and reached 83.09 on February 13, 2024. MS lost 11.06 points, or 11.75%, in 42 days. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (82.95) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a short-term trend.

Daily Technical Indicators: [See MS daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since February 21, 2024. The distance between MACD and the signal line is low, but getting bigger.

During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 59.69
Williams' Percentage Range (W%R) 40.50
Lane's Stochastic (%D-Slow) 55.00
Greed/Fear Indicator (GFI) 58.05
Moving Average Converg./Diverg. (MACD) 0.21
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 61.85
Williams' Percentage Range (W%R) 22.90
Lane's Stochastic (%D-Slow) 35.70
Greed/Fear Indicator (GFI) 53.48
Moving Average Converg./Diverg. (MACD) 0.66
Trading Signals
Description Value Chart
Upper Bollinger Band 90.12
Parabolic System 89.83
Price 88.38
Daily Stochastic Crossing 87.89
Quarterly Trendline Resistance 87.59
50 Day Moving Average 87.26
20 Day Moving Average 86.91
Weekly Stochastic Crossing 86.06
Lower Bollinger Band 84.39
Weekly Trendline Support 82.95
Weekly Trendline Resistance 80.38
Sector and Industry
Description Name Rank
Sector Financials 11
Industry Investment Banking & Brokerage 71
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 83.09
Low Date 02/13/2024
High 91.24
High Date 03/04/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Descending Triangle
Status Broken Resistance
Resistance 80.38
Support 82.95
High 94.15
High Date 01/02/2024
Low 83.09
Low Date 02/13/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 69.42
Low Date 10/30/2023
High 94.15
High Date 01/02/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Test Resistance
Resistance 87.59
Support 59.66
High 100.99
High Date 02/14/2023
Low 69.42
Low Date 10/30/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 109.73
High Date 02/10/2022
Low 69.42
Low Date 10/30/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.