MSFT: Double-Top, or Bull Flag Breakout?NASDAQ:MSFT is showing a mixture of bullish and bearish signals; however, the most concerning of which is an active rug pull event which kicked off on March 16, 2023 at $265.20 via the 2D timeframe:
This coincides with a large RSI divergence event occurring on the larger timeframes; highlighting the potential for a double-top:
That being said, there appears to also be a major bull flag forming on the larger timeframes:
If we dive a bit deeper into the smaller timeframes and analyze the bull flag, we see another active rug pull at $345. This signals a high likelihood NASDAQ:MSFT will hit $345 in the near future:
With a high degree of both bullish and bearish signals, it can be hard to discern where NASDAQ:MSFT might be headed next.
We are keeping a very close eye on the AVWAP derived from the March 16 event as a guiding factor. Should the price significantly break below this level, we expect further drawdown to $265 will occur.