Microsoft / MSFT found support at 309.50, more or less where the August 18th low was priced, and put the Channel Down pattern on hold.
It is quite possible for a Rectangle to emerge as a hold of Support A (309.50) would potentially mean a test of Resistance A (341.10).
The 4hour MACD forming a Bullish Cross, certainly leads towards that direction.
As long as Support A holds, buy and target 340. If it fails and breaks, sell and buy on the 1day MA200 (target 320.00).
Previous chart:
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It is quite possible for a Rectangle to emerge as a hold of Support A (309.50) would potentially mean a test of Resistance A (341.10).
The 4hour MACD forming a Bullish Cross, certainly leads towards that direction.
As long as Support A holds, buy and target 340. If it fails and breaks, sell and buy on the 1day MA200 (target 320.00).
Previous chart:
Follow us, like the idea and leave a comment below!!
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TheCryptagon offers news & insights on global markets (crypto, forex, stocks, commodities). Follow so you don't miss anything!
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.