Don't Ignore This Chart!

Morgan Stanley (MS) Rings The New Highs Alarm

Greg Schnell

Greg Schnell

Chief Technical Analyst, Osprey Strategic

Morgan Stanley (MS) has been consolidating for a while, but today, the stock broke out to new highs. The chart looks great with the SCTR moving into the top quartile and the Relative Strength is moving to new highs. The price exceeded the March highs after forming a nice consolidation panel.


The MACD is making higher highs which also bullish. There is lots to like about this chart as the asset managers continue to roar.

Good trading,
Greg Schnell, CMT, MFTA

 
Greg Schnell
About the author: , CMT, MFTA is Chief Technical Analyst at Osprey Strategic specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA). Learn More