Potential MSFT Breakout
Potential bullish breakout on MSFT:
This analysis is purely technical, so be aware of this - MSFT is currently experiencing choppy trading thanks to immense amounts of speculation regarding it's price. Is MSFT overvalued? I'll leave that opinion to your own due diligence. But current evaluations on websites like Yahoo finance are stating that MSFT is overvalued, resulting in investors taking profits and anticipating an entry at a lower price.
However, the charts are showing a potential bullish breakout on MSFT. We are instantly hit in the face with a rather questionable, yet potentially bullish looking wedge on the 1D. The OmniBands are compressing as well, which historically for many tech stocks like MSFT indicate a breakout is incoming.
For those confused on what OmniBands are/what they measure, read this:
*** "There are 2 sets of support (green) and resistance (red) bands. The 'short' more volatile bands render short term price action and weaker levels of support or resistance. The 'long' bands allow you to see the larger and more significant buying and selling zones." (directly from OmniTek Trading's website)
As always, do your own DD.
Happy trading!
This analysis is purely technical, so be aware of this - MSFT is currently experiencing choppy trading thanks to immense amounts of speculation regarding it's price. Is MSFT overvalued? I'll leave that opinion to your own due diligence. But current evaluations on websites like Yahoo finance are stating that MSFT is overvalued, resulting in investors taking profits and anticipating an entry at a lower price.
However, the charts are showing a potential bullish breakout on MSFT. We are instantly hit in the face with a rather questionable, yet potentially bullish looking wedge on the 1D. The OmniBands are compressing as well, which historically for many tech stocks like MSFT indicate a breakout is incoming.
For those confused on what OmniBands are/what they measure, read this:
*** "There are 2 sets of support (green) and resistance (red) bands. The 'short' more volatile bands render short term price action and weaker levels of support or resistance. The 'long' bands allow you to see the larger and more significant buying and selling zones." (directly from OmniTek Trading's website)
As always, do your own DD.
Happy trading!
Note
MSFT broke out roughly two days after publishing this idea - I hope you guys were able to bank off of that! Unfortunately, I missed out :( But I'll still be patiently sitting here waiting for another opportunity to go long :)
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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.
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.