Morgan Stanley (MS), a financial holding company provides various financial products & services to corporations, governments, financial institutions & Individuals in the Americas, Europe, Middle East, Africa & Asia. It operates through Institutional Securities, Wealth Management & Investment management services. It is based in New York, US, comes under Financial services sector & trades as “MS” ticker at NYSE.
Since 2008 low, MS confirmed higher high sequence, calling for further upside to continue once the current pullback finishes. It ended in wave I at $109.73 high & favors pullback in wave II in 7 or 11 swings against March-2020 low before turning higher.
MS – Elliott Wave Latest Weekly View:
It showing higher high sequence from October-2008 low. It favored ended (I) at $59.38 high & (II) at $27.20 low. Above there, it placed ((1)) of I at $54.38 high & ((2)) at $45.86 low. Thereafter, it extended higher in third , which ended as ((3)) at $105.95 high. Wave ((4)) was shallow as , which ended at $92.94 low as 0.236 of previous leg. Finally, it ended ((5)) as wave I at $109.73 high before pullback starts.
MS – Elliott Wave Latest Daily View:
Below wave I high, it placed ((W)) of II at $72.05 low on 7/14/2022 & ((X)) connector at $100.99 high on 2/14/2023. It expects ((Y)) leg down in wave II correction, which will confirm below ((W)) low. In that case, it expects weakness towards weekly blue box area between $63.21 – $39.86, where buyers expect to enter the market. Currently, it favors lower in 1 of (A) & expect weakness to continue before a bounce in (B) of ((Y)) leg. Alternatively, if it breaks above $109.73 high, then it should be in III higher, while placed II at $72.05 low.
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Source:-forecast.com/stock-market/morgan-stanley-ms-favors-short-term-weakness/
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