MSFT Price Recap
Price Recap:
After breaking below a long term uptrend on the daily and weekly, MSFT’s price sold to a key demand zone before retracing back to the bottom side of the previous long term uptrend. Price rejected the bottom side of the previous long term uptrend in addition to rejecting a previous key resistance area. MSFT’s price is now consolidating between 405.14 and 425.21.
Trade Idea:
If price continues to sell below 405.14, watch for a move to 398.29 and 389.10. If begins to bounce from this demand point, watch for entries to the high of the current HTF range on. The daily.
Additional Considerations:
- Jeanius buy signal (Monthly and Daily)
- Holding 200ma
- Hovering RSI midpoint
- Possible head and shoulders on the HTF
After breaking below a long term uptrend on the daily and weekly, MSFT’s price sold to a key demand zone before retracing back to the bottom side of the previous long term uptrend. Price rejected the bottom side of the previous long term uptrend in addition to rejecting a previous key resistance area. MSFT’s price is now consolidating between 405.14 and 425.21.
Trade Idea:
If price continues to sell below 405.14, watch for a move to 398.29 and 389.10. If begins to bounce from this demand point, watch for entries to the high of the current HTF range on. The daily.
Additional Considerations:
- Jeanius buy signal (Monthly and Daily)
- Holding 200ma
- Hovering RSI midpoint
- Possible head and shoulders on the HTF
Dennis Butler Jr.
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