Technical analysis

Morgan Stanley Wave Analysis 26 November, 2020

Morgan Stanley Wave Analysis 26 November, 2020

• Morgan Stanley reversed from support level 57,50

• Likely to rise to 67,5

Morgan Stanley earlier reversed up from the key support level 57,50 (former multi-month high from January) – which signalled the continuation of the active impulse waves 5 and (3).

The active impulse waves 5 and (3) belong to the primary upward impulse sequence ③ from the end of September.

Morgan Stanley is likely to rise further toward the next resistance level 67,5 (target price for the completion of the active impulse (3) intersecting with the resistance trendline of the weekly up channel from March).

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