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
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.