MSFT short near term
Microsoft looking bearish in near term.
Looking for price drop from current levels to $224 or $217 in near term.
Near Term Bearish indicators,
1. The 40 EMA line is at $222, which indicates Microsoft is set for correction.
2. RSI making a bearish crossover from overbought levels.
3. Prevailing market conditions/sentiments.
4. No upcoming new/events.
5. MACD isn't shown her, but even that shows a bearish crossover
In long term, $215-$220 looks like a strong buy zone for Microsoft. Ascending support, EMA line both lie in that zone.
My strategy.
Buying put options expiring in June if it hits $235-$240 in next week. Will hold them till $225.
What do you guys think ?
Looking for price drop from current levels to $224 or $217 in near term.
Near Term Bearish indicators,
1. The 40 EMA line is at $222, which indicates Microsoft is set for correction.
2. RSI making a bearish crossover from overbought levels.
3. Prevailing market conditions/sentiments.
4. No upcoming new/events.
5. MACD isn't shown her, but even that shows a bearish crossover
In long term, $215-$220 looks like a strong buy zone for Microsoft. Ascending support, EMA line both lie in that zone.
My strategy.
Buying put options expiring in June if it hits $235-$240 in next week. Will hold them till $225.
What do you guys think ?
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