Wednesday, 7 November 2012

MS - a big financial in trouble

Morgan Stanley (MS) saw a massive 8.5% decline to close @ $16.64. The drop was the biggest of the year, and with the main indexes looking dire for the next few days, further downside is expected.

MS, daily


Next key support is the old July/August peak of $15...which is a clear 10% lower than today's close.

MS is a huge financial monster, there are all sorts of very crazy rumours surrounding it, and if $15 fails to hold, then a test of the important $12 level will be viable.