MSFT
Huge Head and Shoulders pattern, and MSFT is now trading in a falling wedge.
The volume soared when MSFT broke through the neckline.
aldought a falling wegde is seen as a bullish pattern, the measured move for the Heas and Shoulders patterns is far behond where the pricec is now, so for now I am bearish on MSFT and actually almost everything. But once the price breaksout of the wegde maybe the sentiment would change.
When only looking at the daily candles there is a lot of noice and it could be kinda choppy. but I like to draw some simple lines, this gives a clear view of the situation.
We could maybe profit from this falling wegde, by placing orders when the price is at or near the border of the wegde, but be carefull, please see my post about channels, where I explain how to profit from this situation, I also explain the dangers of trading this strategy.
Have a nice day
This is no financial advice.
