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Morgan Stanley's Technical Charts Show Continued Deterioration


NEW YORK (TheStreet) -- Things started well this year for Morgan Stanley (MS - Get Report) .

Technical indicators for the investment bank showed its shares began 2015 above a "golden cross" that had formed in October 2012. At that time Morgan Stanley's 50-day simple moving average closed above its 200-day average. The stock set an all-time high on July 20 before things started to deteriorate.

On the Thursday before the "Black Monday," China-induced flash crash of Aug. 24, Morgan Stanley stock gapped below its 200-day simple moving average. That Monday the stock fell by so much it was briefly in bear...