Currently trading around $270, Microsoft is priced close to this month’s R1, PP1 pivot resistance level. Currently priced bellow this weaker resistance level the stock is trading above its central PP level. Furthermore, using a 20-day ranged Bollinger investors can see that the price currently lies just below its upper bound. In fact, the upper bound is equal to the R1, PP1 resistance level supporting a bareish sentiment.
Based on these signals, it would be reasonable to assume a bareish correction towards its support. However, it would also be reasonable to assume more bullish movement towards it’s PP1 resistance pivot before any bareish corrections were to occur. Based on buy trends represented by the green candles, it would seem as though there will be modest bullish movements before the stronger bareish corrections were to occur. This trend is represented by swing high and low patterns since the start of the year.
Therefore, we have set our purchase price in between the PP 0.5 and R1 resistance levels. We anticipate based on chart trends that the green candles will reach the price of at least $275 before any bearish corrections occur. The team have set a target price in line with the Fibonacci’s S1, PP 0.382 support pivot. The buyer should sell around $244.
Moreover, negative earnings are expected to be announced today. Therefore, expect bareish corrections in line with this report.
Based on these signals, it would be reasonable to assume a bareish correction towards its support. However, it would also be reasonable to assume more bullish movement towards it’s PP1 resistance pivot before any bareish corrections were to occur. Based on buy trends represented by the green candles, it would seem as though there will be modest bullish movements before the stronger bareish corrections were to occur. This trend is represented by swing high and low patterns since the start of the year.
Therefore, we have set our purchase price in between the PP 0.5 and R1 resistance levels. We anticipate based on chart trends that the green candles will reach the price of at least $275 before any bearish corrections occur. The team have set a target price in line with the Fibonacci’s S1, PP 0.382 support pivot. The buyer should sell around $244.
Moreover, negative earnings are expected to be announced today. Therefore, expect bareish corrections in line with this report.
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