Buying and Selling in the Stock Market on May 24

Purchase of Morgan Stanley shares (#MS) . American bank holding company.

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On the daily chart, the price is growing above the MACD line, having pushed off from the 138.2% Fibonacci level three days earlier. The Marlin Oscillator has formed a wedge and is ready to go up from it. The target level is the range of Fibonacci levels of 261.8-271.0% in the price area of 92.10.

Sale of Alcoa shares (#AA) . American aluminum producer.

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On the weekly chart, the price reversed from the 361.8% Fibonacci level, which, according to statistics, indicates an impending deep correction, approximately in the range of levels 223.6-238.2% or even lower.

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On the daily chart, the price is fixed below the MACD indicator line and the Marlin Oscillator in the downward trend zone. The targets are determined by the Fibonacci levels: 238.2% - 31.10, 223.6% - 29.50, 200.0% - 27.00.

The material has been provided by InstaForex Company - www.instaforex.com

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