Hello traders and investors! Let’s see how MSFT is doing today!
First, in the 1h chart, it is interesting to notice that the 38.2% Fibonacci’s Retracement is holding the price nicely. Coincidence or not, this point was a previous resistance two days ago, and now it is working as a support.
Despite the drop today, MSFT has no bearish structure around, and it is still above the 21 ema. The trend is bullish, and MSFT will keep pushing up, unless we see something new that could bring a sharper pullback.
If MSFT loses the 21 ema/38.2% retracement in the 1h chart, probably this will bring a pullback to the previous support levels in the daily chart:
Microsoft is moving sideways since August, a pullback to the 61.8% retracement again wouldn’t be unexpected at all. Meaning, MSFT could hit the $ 294 again, and the mid-term bias would remain unchanged.
We see a mid-term congestion, in a long-term bull trend. I still see pullbacks to the previous support levels as opportunities to buy.
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Have a good day!
First, in the 1h chart, it is interesting to notice that the 38.2% Fibonacci’s Retracement is holding the price nicely. Coincidence or not, this point was a previous resistance two days ago, and now it is working as a support.
Despite the drop today, MSFT has no bearish structure around, and it is still above the 21 ema. The trend is bullish, and MSFT will keep pushing up, unless we see something new that could bring a sharper pullback.
If MSFT loses the 21 ema/38.2% retracement in the 1h chart, probably this will bring a pullback to the previous support levels in the daily chart:
Microsoft is moving sideways since August, a pullback to the 61.8% retracement again wouldn’t be unexpected at all. Meaning, MSFT could hit the $ 294 again, and the mid-term bias would remain unchanged.
We see a mid-term congestion, in a long-term bull trend. I still see pullbacks to the previous support levels as opportunities to buy.
If you liked this analysis, remember to follow me to keep in touch with my daily updates! And please, support this idea before you go.
Have a good day!
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