Microsoft: Rebound on the 1D MA50. Targeting $217-230.

MSFT made a (near) rebound on the 1D MA50. Even though the 1D chart is technically neutral mostly ( RSI = 49.013, MACD = 2.140, ADX = 33.401), the RSI is providing the first strong Buy Signal since March, as it entered the 41.50 - 48.00 Buy Zone. That was a strong accumulation region from August 2019 to October 2019, so even though the price may drop some more and touch the 1D MA50, we take this as a strong buy opportunity.

We aim at the completion of a +40% extension from the last time the price made contact with the 1D MA50 (early April 2020), and set our Target Zone at 217 - 230.




** If you like our free content follow our profile to get more daily ideas. **

Comments and likes are greatly appreciated.