The top does not look so hot. Looks very similar to a complicated head and shoulders, or simply an ugly top.
If this is an ugly top price has fallen past the neckline.
I love this stock and I own a lot of it so I am not thrilled with this chart. I will hang however and buy more when I think it is time. I bought this for my IRA several years ago when this was well under $100. There is just not telling what the market has in store and I am hoping a level of support kicks in soon with consolidation at that level.
Price is under the 50 and the 100 SMA. Negative volume remains high. Oversold on daily RSI.
No recommendation.
It is important to look up at where price has been, but equally important or even more so, to look down at where price has been.
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There are unbroken rising wedges below price. Thx Lavon
The level of support is at 300 for MSFT. There is a huge buy order there. If that breaks, then MSFT will drop further. So pay attention to the 300 level.
UnknownUnicorn32969573
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@alwaysinlearningmode does microsoft look like it formed a bear flag to you on friday ? @LadyAmalthea12
alwaysinlearningmode
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@lavontakeyamon, On the daily, Microsoft has broken and closed below 100 SMA two days in a row, however, it has bounced from the long term support-trendline (starting from March 2020). It has in past also dropped below the 100 MA and sometimes below the support for a shorter time but it has always bounced back. I think MSFT is due for a bounce
UnknownUnicorn32969573
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@alwaysinlearningmode, im guessing the bounce you speak of is based off of ppl buying ahead of earnings but it wont bounce too much , it has resistance right above it at 311, another at 316, and another around 319
lauralea
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@lavontakeyamon, I think maybe just time to pull back unfortunately/but that is part of life I suppose/If they miss will be perhaps quicker..i think it will pull either way to some degree/and I am sure it will have some bounces to the upside
alwaysinlearningmode
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@lavontakeyamon, I don't think people are going to hold through earnings (that is too unpredictable). If I want to play earnings, I would buy today and then dump before earnings. However, the Futures are really bleeding today (S&P at -1%) so we might see a gap down (in most of the megacaps)
@lauralea, look at the weekly and u will see the rising wedge ... looks like the price may wanna break down at opening to retest lows
lauralea
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@lavontakeyamon, I see a rising wedges with bottom trendline at 298ish that was slightly broken in past. I also see one at 224ish and the bottom trendline has not been broken OUCH! Actually the one I see is below 224ish and more like 219ish )o: Where is the bottom trendline of the rising wedge that you see?
UnknownUnicorn32969573
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@lauralea, i see spy touching 448 tomorrow and microsoft maybe 295-297