Nasty distribution playing out here... End of Q2 target is 320-350
Monthly chart..
Reversal candle In Dec .
Structure is sideways for the entire 2024 which is an ENTIRE year of DISTRIBUTION.
Weekly chart
My minimum target for a Wyckoff off of this size is 345 or as low as the weekly 200ma
I don't think we go straight there.. I think in the next 2weeks price will draw down to close gap at 367.00 from Jan 2024 ..
Price has formed a controlled channel thats looking wedgy..
From 367 I expect a rebound up to
410-420
I don't think price gets back over 420, I think that's when MSFT and the rest of the market takes its next major leg down in May
Monthly chart..
Reversal candle In Dec .
Structure is sideways for the entire 2024 which is an ENTIRE year of DISTRIBUTION.
Weekly chart
My minimum target for a Wyckoff off of this size is 345 or as low as the weekly 200ma
I don't think we go straight there.. I think in the next 2weeks price will draw down to close gap at 367.00 from Jan 2024 ..
Price has formed a controlled channel thats looking wedgy..
From 367 I expect a rebound up to
410-420
I don't think price gets back over 420, I think that's when MSFT and the rest of the market takes its next major leg down in May
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Related publications
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.