MSFT is more than likely completing it's wave 5 of the cycle started at 280.25. will it go too far? Lets folllow!
MSFT has beautifully completed wave 1234 of a 5 leg up going wave and has newly started wave 5 of the mentioned cycle with a bullish reaction to the strong support formed by the cluster of typical Fibonacci levels shown on the chart.
Stock broke short term down trend line connecting ATH and labeled wave (B). Also stochastic indicator has made a bullish reversal in oversold zone. We have nice auxiliary confirmations so far.
If true, our target is 357-368 zone which suggests that this is a short term trade and is not a good setup for long term investment! This is also true for some other important stocks like NVDA (You can check the related idea if interested).
Looking at H1 time frame , we find out that MSFT has completed wave 1 of the current wave 5. It means that we can set our buy stop to 335.9 which is above the mentioned wave 1. However, lower risk buy stop is above labeled wave (B) which is : 339.3. I myself, Take half of my position at first one and add another half at second.
Please note this is the most probable scenario which means there are some more optimistic scenarios. Should it need any update, We can do it later.
Good luck my friends.
MSFT has beautifully completed wave 1234 of a 5 leg up going wave and has newly started wave 5 of the mentioned cycle with a bullish reaction to the strong support formed by the cluster of typical Fibonacci levels shown on the chart.
Stock broke short term down trend line connecting ATH and labeled wave (B). Also stochastic indicator has made a bullish reversal in oversold zone. We have nice auxiliary confirmations so far.
If true, our target is 357-368 zone which suggests that this is a short term trade and is not a good setup for long term investment! This is also true for some other important stocks like NVDA (You can check the related idea if interested).
Looking at H1 time frame , we find out that MSFT has completed wave 1 of the current wave 5. It means that we can set our buy stop to 335.9 which is above the mentioned wave 1. However, lower risk buy stop is above labeled wave (B) which is : 339.3. I myself, Take half of my position at first one and add another half at second.
Please note this is the most probable scenario which means there are some more optimistic scenarios. Should it need any update, We can do it later.
Good luck my friends.
Note
stock strongly took out our labeled wave (B). We will have a new ATH soon my friends. Congrats.Note
Flat corrections ! One major bull trap ! I may got it wrong forgetting the possibility of the this type of correction ! That is the world of trading! Lets see whats happens next ! do we have a new low or new ATH? Lets follow and if wrong learn some thing new at a cost of a small loss !Note
We had new low yesterday which proves this analysis to be wrong. We will have a new ATH on MSFT stock for sure but I am not going to cover my mistakes by that ATH. We will find a new entry point later.Good luck everyone!
Note
A trade above 343.79 makes our flat correction scenario most probable and strong one !As I mentioned MSFT will see a new ATH. Stock is strongly bullish.
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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.