Second Time’s The Charm? (MS)

by | Jul 9, 2024

Banks have been up and down quite a bit over the past several months.

But right now, it looks like banks are looking bullish again.

And, specifically, Morgan Stanley (MS) looks like it might be ready to break out.

The last time MS reached this level, it teased a move and then pulled back.

Now it’s coming up to that level once again.

Here’s the chart:


A break above $103.25 could lead to an explosive move.

Sometimes the second time is the one.

Happy trading,

— Scott Welsh

P.S. As a reminder, these plays are based on my longer-term Weinstein Stage Analysis method. The chart above uses weekly candles and a 30 week simple moving average. For details on this method, see my explanation on this Ask The Pros episode starting at timestamp 20:45.




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