MSFT - 1D chart - FIB Retrace
MSFT has bounced off the 61.8% Fib retracement and rocketed up from that position with a high volume. When we draw Fib Extension pattern, we are looking at a high of $208, which it is around right now, and may bounce back. If this continues past this point, we are able to continue to $229, which would be a good sell point, as market is starting to correct. If we get very high volume and a strong push up, there is a small potential to see $290.
MSFT has bounced off the 61.8% Fib retracement and rocketed up from that position with a high volume. When we draw Fib Extension pattern, we are looking at a high of $208, which it is around right now, and may bounce back. If this continues past this point, we are able to continue to $229, which would be a good sell point, as market is starting to correct. If we get very high volume and a strong push up, there is a small potential to see $290.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.