MORGAN STANLEY - MS
Monthly chart shows an abc three wave pattern into .786 fib resistance - creating a bearish gartley butterfly pattern.
Weekly chart shows a head and shoulder reversal pattern.
Daily chart shows a corrective pattern into the .618 fib resistance level. Trader sentiment has changed from mildly bullish to extreme bearishness as traders gapped down the price at the open and took the stock to close near its lows for the day. Look for continuation lower in the weeks ahead.
Saturday, October 20, 2007
MS Analysis for 10.20.200707
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