IvanLabrie
Short

Microsoft: Interesting scenario

NASDAQ:MSFT   MICROSOFT CORP
8 months ago
MSFT             has formed a large double top, and might be starting a correction towards the support below.
It's interesting to note that the top happened at the highest low in the weekly chart, and that we have two 9 week modes in the chart, from the top.

If we were to cross the earnings support, the inside trendline, and the 9 week mode below, we could see a correction landing into the earnings support levels below, close to the 45 handle.
We can go short with stops above 55.43, either at a new low, or at a slight retracement approaching the 55 mark.
If we don't get a new high tomorrow, and the close remains under 55, we might good odds with this trade.
Refer to Tim West's publication for the fundamental outlook for this stock .
See related ideas.

Good luck if taking this trade,

Ivan Labrie.
8 months ago
Trade active
8 months ago
Comment: 8 days at 55.12.

We might get a sharp decline next, fireing a time at mode downtrend signal.
7 months ago
Comment: Great daily close.
7 months ago
Comment: We could be witneseeing a double top here. Let's see how it goes.
If you're interested in joining my trading newsletter or private lessons, message me. I trade Forex, Equities and Commodities. Contact: skype @ ivanlabrie, PM here or QQ (2954487803).
archiki
8 months ago
this was a huge talk for us :-0)
nice find!
+1 Reply
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