MSFT Bullish Continuation out of a Cup and Handle LONG
Updated
MSFT on the daily chart shows the price action in the bull run out of the Covid lows then a
cup and handle pattern is printed and finally bullish continuation above the level of the cup.
Since the cup has a height of $145 and the level of the lip of the cup is $345, the pattern
forecasts bullish continuation for $ 145 above the cup's lip at $ 345 and so targeting $ 480.
I will continue to add to my MSFT position while watching for pivot lows on the 120-240 minute
charts. MSFT is a major player in the AI space and could even launch its own semi-conductor
division to compete with NVDA and the others. It has a healthy balance sheet and free flowing
cash from which to grow without dependence on interest rates coming down. The RSI indicator
shows consistent strength without signs of being overbought.
cup and handle pattern is printed and finally bullish continuation above the level of the cup.
Since the cup has a height of $145 and the level of the lip of the cup is $345, the pattern
forecasts bullish continuation for $ 145 above the cup's lip at $ 345 and so targeting $ 480.
I will continue to add to my MSFT position while watching for pivot lows on the 120-240 minute
charts. MSFT is a major player in the AI space and could even launch its own semi-conductor
division to compete with NVDA and the others. It has a healthy balance sheet and free flowing
cash from which to grow without dependence on interest rates coming down. The RSI indicator
shows consistent strength without signs of being overbought.
Trade active
Entry today at 414.50 for a low pivot at the morning open Trade active
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