Liathetrader

$MSFT - potential support in phase 4

Short
NASDAQ:MSFT   Microsoft Corp.
$MSFT has been in selloff and it's been frequently discussed these days. If we break current level, there is not much demand down to $220 and $208, which would be about 36-40% down from ATH, respectively.
I can see MSFT getting there if overall market is wacky. Chaikin Oscillator with Bollinger bands also generated sell signal on August 8th and since then it's been in an ugly downtrend. This also looks like a phase 4 - downtrend.
I'll wait patiently and might start adding to my position around 220. Good old MSFT.