MSFT is due for a backup/retest within a larger Accumulation structure; however, near-term there has been minor distribution which suggests this pullback could be deep enough to make some money on the puts side.
Point target is 266, which will be a critical level:
- if it bounces in the 266-270 range, it can continue higher to upper 290s (it would be pulled back down from there toward equilibrium point of 266 by mid-May)
- if it falls below 266 then it will make explosive move to next target of 247, where it will likely bounce and move up toward 266 equilibrium point by mid-May
- Lowest I can see it going is 233, where it will find support
Momentum is to the downside near-term, after breaking below 281 (the breakdown level from recent minor distribution). As long as it stays below that going into the report today (4/25) then we will see the downside follow through to at least 260s.
Expect price action to be something in between the solid red trajectory and the dashed black trajectory.
Point target is 266, which will be a critical level:
- if it bounces in the 266-270 range, it can continue higher to upper 290s (it would be pulled back down from there toward equilibrium point of 266 by mid-May)
- if it falls below 266 then it will make explosive move to next target of 247, where it will likely bounce and move up toward 266 equilibrium point by mid-May
- Lowest I can see it going is 233, where it will find support
Momentum is to the downside near-term, after breaking below 281 (the breakdown level from recent minor distribution). As long as it stays below that going into the report today (4/25) then we will see the downside follow through to at least 260s.
Expect price action to be something in between the solid red trajectory and the dashed black trajectory.