Microsoft: Interesting scenario

9 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.
9 months ago
Trade active
9 months ago
Comment: 8 days at 55.12.

We might get a sharp decline next, fireing a time at mode downtrend signal.
9 months ago
Comment: Great daily close.
9 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).
9 months ago
this was a huge talk for us :-0)
nice find!
+1 Reply
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out