In my previous publication I alerted of MSFT topping in the near short term but I was too early with my asessment.
So far, the levels that had to break down, have been broken down, and after this week's close, we will have a time at mode downtrend signal confirm, which would aim for 45.34 at least. The downtrend is projected to last for 10 weeks or less (depending on the price action but that's the maximum time it would probably lat). Once this time runs out, we could expect a move back into the mode at 52.32.
You can trade this one with options, or find a short entry via stock, which would imply setting a stop loss at 50.6 or slightly higher.
If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers,
Ivan Labrie.
Link to Tim West's chatroom: www.tradingview.com/chat/
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
So far, the levels that had to break down, have been broken down, and after this week's close, we will have a time at mode downtrend signal confirm, which would aim for 45.34 at least. The downtrend is projected to last for 10 weeks or less (depending on the price action but that's the maximum time it would probably lat). Once this time runs out, we could expect a move back into the mode at 52.32.
You can trade this one with options, or find a short entry via stock, which would imply setting a stop loss at 50.6 or slightly higher.
If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers,
Ivan Labrie.
Link to Tim West's chatroom: www.tradingview.com/chat/
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
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Comment:
We have broken above the support level that had failed previously, it might be a 'rounded bottom'. I'd switch to longs here, stops under the lows or stay flat.
