MSFT Following GOOG's Path? Targeting $350
Hello Traders,
I’m sharing my analysis of the MSFT weekly chart. The price has bounced off the upper main channel line around $465.
Looking at the previous wave, it consisted of an uptrend (blue progression channel) lasting 94 weeks and a downtrend (grey channel) lasting 42 weeks, totaling 136 weeks. I’ve highlighted a yellow rectangle showing the price action after exiting the blue channel. Let's apply the same logic to the current wave, which started in January 2023.
The price has now exited the uptrend portion of the current wave (blue channel) and is retesting the broken channel's lower line, similar to what we observed in the yellow rectangle. Therefore, I expect a downtrend channel to form, potentially targeting $350 over the next 45 weeks.
I've aimed to make this analysis straightforward, and you'll notice that MSFT is exhibiting a pattern similar to GOOG, with two waves in a long-period progression channel.
Happy trading!
MSFT
I’m sharing my analysis of the MSFT weekly chart. The price has bounced off the upper main channel line around $465.
Looking at the previous wave, it consisted of an uptrend (blue progression channel) lasting 94 weeks and a downtrend (grey channel) lasting 42 weeks, totaling 136 weeks. I’ve highlighted a yellow rectangle showing the price action after exiting the blue channel. Let's apply the same logic to the current wave, which started in January 2023.
The price has now exited the uptrend portion of the current wave (blue channel) and is retesting the broken channel's lower line, similar to what we observed in the yellow rectangle. Therefore, I expect a downtrend channel to form, potentially targeting $350 over the next 45 weeks.
I've aimed to make this analysis straightforward, and you'll notice that MSFT is exhibiting a pattern similar to GOOG, with two waves in a long-period progression channel.
Happy trading!
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