The Morgan Stanley stock price ended the week near its lowest levels after testing the $101 price level, but with no success in staying above it. From previous posts in previous weeks we had warned bulls that a downward reversal is imminent and we prefer to be neutral if not bearish.
This week's candlestick closed below the tenkan-sen (red line indicator) and is vulnerable to moving towards the kijun-sen (yellow line indicator) which provides support at $95. Failure to stay above $95, will open the way for a bigger decline towards the cloud support. With a long upper tail and a weekly close near its lowest levels, MS stock price justifies a move lower towards $85.
