MSFT has passed its consolidation rectangle (blue) with a big gap, that is a sign of a strong buying trend. After that big jump, it is normal to see a breath on the stock. The first support is at 59.40 (upper bound of the gap).
You can initiate a long position at 60.10$ approximately on Microsoft. Better to wait a bounce at 59.40$ for safety (confirmation) but you can also do it before if you want to make sure you are in.
Stop @ 59$ (below the upper bound of the gap)
Target @ 61.90$ (just below the 61.8% Fibonacci extension resistance of the previous bullish wave that took place before the rectangle.
Feel free to leave a comment about this trading idea !
You can initiate a long position at 60.10$ approximately on Microsoft. Better to wait a bounce at 59.40$ for safety (confirmation) but you can also do it before if you want to make sure you are in.
Stop @ 59$ (below the upper bound of the gap)
Target @ 61.90$ (just below the 61.8% Fibonacci extension resistance of the previous bullish wave that took place before the rectangle.
Feel free to leave a comment about this trading idea !