FirasMohamed

MICROSOFT: SAFE SIDE

NASDAQ:MSFT   Microsoft Corp.
Microsoft these days playing in the safe side.
we have on the chart 4 simple lines (whats make clear price movement) the channel lines and Support & Resistance . So, the price has 2 spikes (what mean it broke the resistance 2 times) and it's not that hard to tell that the next price step is going Down if you look to the Stochastic but you'll be confused if you look at the Bollinger Bands , which give a signs for an Up movements And that's why you should NEVER depend on Indicators. Anyway. Aftermarket open, I expect for the price to back down.

the last candlestick format shows "Evening Star Candlestick Pattern" 50% valid, why not 100%? because "Evening Star" needs 6 conditions to be confirmed:

1) Uptrend ~ Check.
2) Bullish Candle ~ Check
3) Gap Up ~ Check
4) Small Bullish Candle ~ Check
5) Gap Down ~ In progress (aftermarket open)
6) Bearish Candle ~ In progress (aftermarket open)

I don't believe $110.82 levels will be strong support because as I said the price alright Overbought so the movement down will break this support level easily.
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