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Long

MICROSOFT: Next Top at 51.74?

NASDAQ:MSFT   MICROSOFT CORP
66 0 4
Short-Term Analysis and Trading Recommendations for the short- term investors on MSFT             .
The short-term trend according to the daily time frame is in an Uptrend technically indicated by following:
• Dow pattern- higher tops and higher bottoms- B1,T1,B2,T2
• Price is currently trading above the Uptrend-line.
The uptrend is confirmed by the bullish cross of MA10 above MA20.
Prices are trading above the support level at 46.02(support 1) and below the 61.8% Fib retracement level at 48.18.
Therefore, I will recommend LONG POSITIONS for the no position holders on MICROSOFT             . Take profit at 51.74 the 161.8% Fib extension level. Stop loss should be a bit below the support level-S1, thus the stop loss is at 43.00.
For LONG-holders I will recommend to HOLD their long positions and adopt the same stop loss and take profit orders as mentioned above.
For the short-position holders I will recommend them to CLOSE SHORT POSITIONS AND GO LONG (since they are trading against the short-term trend) and adopt the same limit and stop orders as mentioned above.
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