Microsoft has experienced its first golden cross since Feb 2019. Upon its previous occurance, Microsoft rallied from 108 to 190. I am not suggesting this will happen again, however. It’s very likely that Microsoft will see a double top before a fall back down. I would, from technical indicators, suggest that MSFT still has an interest in following the mapped trendline.
It’s equally as easy to get stopped out in this position, though. We can see the level at 161 being a very important support level should it hit before rallying.
It’s equally as easy to get stopped out in this position, though. We can see the level at 161 being a very important support level should it hit before rallying.
Trade active:
Healthy start to this trade, but we are about to run into an unmarked resistance of $178... if MSFT can push through this healthily, then we should see positive results. I would shift the stop loss to the OG entry, however.