Morgan Stanley (NYSE: MS) Headed Higher Says Market Timer Frank Kollar
August 12, 2008 (FinancialWire) (By Frank Kollar)
Shares of Morgan Stanley (NYSE: MS) have rebounded from their July correction lows and are now above two resistance levels, $40.60 and $43.24, that point to higher highs in coming weeks.
Morgan Stanley should test its $50.00 March-May 2008 highs in short order. But those highs have stopped advances twice now and could do so again.
To move higher Morgan Stanley must make a decisive close above its March-May highs. If it does so, the potential for share prices to reach $57.84, the next strong resistance level, becomes realistic, though it is a long way off.
Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.
Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.
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