Thus far, the first 2 support levels has been breached. Next week, we will know if there is buying power to sustain support level 3. If not, we will see the price action revisit support level 4 and if that breaks as well, then it is more conceivable to say that the gap will be filled up.
What causes all this tech shares downfall ?
Some blame it on the seasonality effect (Aug & Sep are bearish months) , others said it is due to China weak economy and stock market that causes the rippling effect.
To me, the reasons are less important compared to utilising the opportunity to accumulate this great company. Of course, it is hard and tough to time the market but the tech sectors have rallied quite a bit since last Oct so a pull back is inevitable.
Coincidentally, the drop from the peak to support level 4 is also around 20% mark which registers a bearish trend for MSFT.
Let's wait and see
What causes all this tech shares downfall ?
Some blame it on the seasonality effect (Aug & Sep are bearish months) , others said it is due to China weak economy and stock market that causes the rippling effect.
To me, the reasons are less important compared to utilising the opportunity to accumulate this great company. Of course, it is hard and tough to time the market but the tech sectors have rallied quite a bit since last Oct so a pull back is inevitable.
Coincidentally, the drop from the peak to support level 4 is also around 20% mark which registers a bearish trend for MSFT.
Let's wait and see
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