Morgan Stanley (MS)

[pro_trader]

Shares of Morgan Stanley (MS) staged a bullish "island reversal" over the last few days with a gap down followed by a gap up. It also offered a bullish stochastics crossover from oversold levels. While I am not expecting shares to go straight up from here (especially after a 95% one-day move), It does appear that the stock has bottomed and I expect higher prices over the intermediate-term.Investors should begin to initiate long positions ASAP.