I believe a 2.5 - 5% correction is the most likely scenario for Microsoft in September if it closes below 297.
Shreds of evidence support this Idea:
1- Getting out of the bullish regression channel
2- making outside day pattern with increased volume price
3- price decline after a lower high pattern
Microsft did not experience any meaningful correction in the past 4 months:
Fibo levels:
Weekly Chart: Schiff Pitchfork
Microsoft has a significant positive correlation with S&P 500:
Conclusion:
Microsoft is short unless closes above 305 in the daily chart with high volume.
Shreds of evidence support this Idea:
1- Getting out of the bullish regression channel
2- making outside day pattern with increased volume price
3- price decline after a lower high pattern
Microsft did not experience any meaningful correction in the past 4 months:
Fibo levels:
Weekly Chart: Schiff Pitchfork
Microsoft has a significant positive correlation with S&P 500:
Conclusion:
Microsoft is short unless closes above 305 in the daily chart with high volume.
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Use the following link to access trading ideas: patreon.com/SniperTraderStocks?utm_medium=unknown&utm_source=join_link&utm_campaign=creatorshare_creator&utm_content=copyLink
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.