Morgan Stanley (MS Stock) – Looking to buy the dips
|Morgan Stanley has been considerably been climbing for the past decade without any financial crashes and economical issues affecting it to a point that it has interferred within it’s bullish cycle. We have been eyeing this up recently, considering all stocks and indices have been correcting – this gave us a good opportunity to eye up Morgan Stanley as it may continue to appreciate within the near term future.
Weekly timeframe 22nd April 2022
On a weekly timeframe we are currently within wave II of (III) to the upside. We believe alongside other stocks such as Bank of American, S&P500, it will form a new low within the corrective cyce of wave II. From the completion of that corrective cycle we can expect Morgan Stanley entering into wave III of (III). This is subject to price not breaching through 27.38 invalidation level at the extreme of wave (II).
Daily timeframe 22nd April 2022
Now looking at wave II a bit more closer. We are currently in sub-wave ((B)). It seems like ((B)) is unfolding as an expanded flat. Therefore we can expect wave (C) to unfold in a 5 wave sequence prior to ((C)) of II will be in play. Once ((B)) is done, we would want to breach wave ((A)) against ((B)) to measure our entry point of wave ((C)) based on equality. We would then like to see the breach of 109.82 – extreme of wave I to determine that price is currently in the next impulse wave, III.
I will be keeping a closer look on this and keep our audience up to date when we have a buy range determined.
We pride ourselves to providing real-time analysis on asset classes such as FX, commodities, stocks, ETFs and Indices. To get an exclusive deep dive into our content, we suggest signing up to our 14 day trail! Our strategy has been proven successful within the professional world of trading.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.