At this point, MSFT isn't providing much clarity.
We've formed a descending wedge that the bulls absolutely crushed through, unfortunately the bears came out and pushed priced back down into the pattern. This was a big loss for the bulls as they were looking to get control of some major trendlines. Now we're sitting at the bottom of our trendline support. I've added an extra beneath that hasn't been tested yet but we could be in for a ride lower if the bears keep up their momentum.
We also have a doji forming signalling indecision, big moves could follow, however our indicator isn't showing us anything.
Price will typically want to fill gaps and the bottom of the gap rests at 207.50 so that price is completely reasonable. This chart is unclear but I expect us to fill the lower gap over the next few days since that is the High Volume Node on our Volume Profile.
Nothing about our CDV indicator is giving us a sell signal or indicating a change in possible direction/momentum.
The recent price action concerns me and I can't a great case for the bulls. However, they may find move price up testing the gap above, that will be an important point to break through. We will look to our CDV indicator to see if it's a real move.
Overall, I expect price to consolidate into the gap below and then go on price discovery from there. I would be watching this gap if you are in MSFT this week.
MSFT
We've formed a descending wedge that the bulls absolutely crushed through, unfortunately the bears came out and pushed priced back down into the pattern. This was a big loss for the bulls as they were looking to get control of some major trendlines. Now we're sitting at the bottom of our trendline support. I've added an extra beneath that hasn't been tested yet but we could be in for a ride lower if the bears keep up their momentum.
We also have a doji forming signalling indecision, big moves could follow, however our indicator isn't showing us anything.
Price will typically want to fill gaps and the bottom of the gap rests at 207.50 so that price is completely reasonable. This chart is unclear but I expect us to fill the lower gap over the next few days since that is the High Volume Node on our Volume Profile.
Nothing about our CDV indicator is giving us a sell signal or indicating a change in possible direction/momentum.
The recent price action concerns me and I can't a great case for the bulls. However, they may find move price up testing the gap above, that will be an important point to break through. We will look to our CDV indicator to see if it's a real move.
Overall, I expect price to consolidate into the gap below and then go on price discovery from there. I would be watching this gap if you are in MSFT this week.
MSFT