MS in a long term uptrend channel.
in the beginning of 2014 price reached top of the channel and corrected 15%
after price tried to extend gains but needed to consolidate first, creating an ascending triangle.
price broke 33.5$ resistence on nice relative (august) vol - in grey circle.
today i belive was a check of the 33.5$ level and day ended with hammerish candlestick
long term this stock is a buy and here is a great entry point.
there is a resistence at 35.75$ - traders should take some profit there (just in case) and raise stop to 33.45 at break above 35.75$
in the beginning of 2014 price reached top of the channel and corrected 15%
after price tried to extend gains but needed to consolidate first, creating an ascending triangle.
price broke 33.5$ resistence on nice relative (august) vol - in grey circle.
today i belive was a check of the 33.5$ level and day ended with hammerish candlestick
long term this stock is a buy and here is a great entry point.
there is a resistence at 35.75$ - traders should take some profit there (just in case) and raise stop to 33.45 at break above 35.75$