Targets are below price in orange.
Targets 2 and 3 are possible if targets 1 are passed. However in this case, these targets are very possible.
This may hit targets 3 (T3) as there are old rising wedges down there that are not valid yet. Look back on this chart to 2020. MSFT broke up from this rising wedge a few years ago and it has not corrected.
A rising wedge is bearish in the end and sometimes they can take a long time to correct. TGT has some very old rising wedges that were not broken until today, but there are still a few under where price is now on TGT's chart.
A rising wedge has two trendlines that both slope up and converge at the apex. A rising wedge is not valid until the bottom trendline is broken. There are several in MSFT's chart with the lowest being from 2020 and the bottom trendline is at 191ish. There are also rising wedges that have already corrected in this chart. I only drew 2 which are the most prominent on this chart.
If one were to go short, a stop could be placed over the neckline or at a strong level of resistance. Short percentage is low at less than 1%.
This is probably going to take a long time to bottom out. There will be rallies up and perhaps short term trades will be possible. These will make it take even longer to bottom. Do you ever wish the market would just hurry up at bottom out? It would be nice if this bottom stuff could happen in like less than a week, but that is my opinion and everybody has one (o:
If you are waiting to invest in this for the long term versus trading it short term, maybe wait a while to do so.
I will press the "short" on this one and it gives me a headache to do so )o:
No recommendation.
Be safe//Laura
Targets 2 and 3 are possible if targets 1 are passed. However in this case, these targets are very possible.
This may hit targets 3 (T3) as there are old rising wedges down there that are not valid yet. Look back on this chart to 2020. MSFT broke up from this rising wedge a few years ago and it has not corrected.
A rising wedge is bearish in the end and sometimes they can take a long time to correct. TGT has some very old rising wedges that were not broken until today, but there are still a few under where price is now on TGT's chart.
A rising wedge has two trendlines that both slope up and converge at the apex. A rising wedge is not valid until the bottom trendline is broken. There are several in MSFT's chart with the lowest being from 2020 and the bottom trendline is at 191ish. There are also rising wedges that have already corrected in this chart. I only drew 2 which are the most prominent on this chart.
If one were to go short, a stop could be placed over the neckline or at a strong level of resistance. Short percentage is low at less than 1%.
This is probably going to take a long time to bottom out. There will be rallies up and perhaps short term trades will be possible. These will make it take even longer to bottom. Do you ever wish the market would just hurry up at bottom out? It would be nice if this bottom stuff could happen in like less than a week, but that is my opinion and everybody has one (o:
If you are waiting to invest in this for the long term versus trading it short term, maybe wait a while to do so.
I will press the "short" on this one and it gives me a headache to do so )o:
No recommendation.
Be safe//Laura