MICROSOFT Preparing for the next rally to $260.00

Microsoft Corp. (MSFT) has been trading within a long-term Channel Down since the November 22 2021 All Time High (ATH). Last time we made an analysis on it (July 15), we called for a $285 target which got hit on the previous bullish leg:


On today's analysis, we will do no different but to project the next high based on the previous two bounces at the bottom (Lower Lows trend-line) of the Channel Down. As you see, after another 1W RSI bullish divergence (is on Higher Lows) against the price action (Lower Lows) we can estimate that Microsoft is pricing its last pull-back (if the 1D MA50 (blue trend-line) breaks) before the final rally that can price the new Lower High either on the 1D MA200 (orange trend-line) or the 0.618 Fibonacci retracement level. The 0.618 Fib priced the March 29 Lower High, while the 1D MA200 priced the August 15 High, which was just above the 0.618 Fib again.

Based on that we can expect the next rally to hit at least $260.


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