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Fan Yang

Morgan Stanley (MS) - Bullish Divergence in Support Zone

Morgan Stanley (MS) stock price has been consolidating since the late August dip. The 4H chart shows the market hovering above 30 but finding resistance around 35.60. 

MS 4H Chart 12/23

(click to enlarge)

The 4H chart shows a support zone just above 30 up to 31.35. As price tags 31.35, it is showing a bullish divergence with the RSI.

Perhaps this shows that within the consolidation period, bulls are taking over, in the very short-term, putting the 35.00 handle and 35.60 resistance area back in sight.

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