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Mar 27, 2013 3:48 PM

Massive consolidation Long

Microsoft CorporationNASDAQ

Description

Since november of last year MSFT has largely stayed within the same range trending between 26-27.75 from Nov-Jan, giving us what appeared to be a breakout in early February. However, instead this breakout has turned into another consolidation pattern has MSFT created a bullish ascending triangle, and given that generally the longer something consolidates for the larger the resulting move, I think we could see some nice movement over the next few days. Furthermore RSI has even adopted the same bullish triangle as MSFT, which further points to its breakout.
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