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
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.