Swing trade set up
MSFT is coming into a weekly high volume level of demand between 247-242. There's also a confluence with the weekly 20ma which has acted as strong support for about a decade. My plan is to try to catch a price as close to 242 as possible with a stop just under 240. There is a weekly gap above at 285 along with an untested level of supply that could act as magnet if this pullback can accumulate enough momentum. Let me know your thoughts. Cheers.
**This is not investement advice. Please do your own research.
**This is not investement advice. Please do your own research.
Note
So far plan has worked out beautifully. My goal next week is to look for a pullback to 251 and is should be off to the races as long as broader markets remain bullish.Note
If you took advantage of my swing trade set up, we are coming into one area of resistance at 167-169. (167 tagged premarket) I suggest either taking profits and/ or using a trailing stop. We need to see how msft reacts to this resistance zone to see if we have the juice to make it to the gap. Even tho' tech is strong, that could change in a heartbeat.
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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.