[NASDAQ:MSFT] has been in a bearish channel since it peaked last November.
It still has some room to test on the upside, but the price action I see (monthly chart) shows it already tested last month's high, failed, and is coming back down through the range.
I'm neutral until I see more downward momentum ... then I'm short. I have NO conviction that it'll re-test November 2022's high.
It still has some room to test on the upside, but the price action I see (monthly chart) shows it already tested last month's high, failed, and is coming back down through the range.
I'm neutral until I see more downward momentum ... then I'm short. I have NO conviction that it'll re-test November 2022's high.
Note
It did break above November's high again, and tested the top of the channel, and has now fallen for 2 straight days since. I'm warming up to the idea of shorting this stock down to 210.
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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.