Looking for a reset on MSFT after hitting ATHs. I see a rising wedge as well as a bearish divergence so I'm leaning towards a drop to support at $111 in the coming week or two.
Comment:
Break in progress, am in Oct 12 144 puts
Trade closed manually:
Out of Oct 144P for a 50% gain from $1 to $1.50
Comment:
I think we should head up for a B wave targeting around $114 for a 50% retracement of the move down. Then C down to $111.
Comment:
$111 target hit. Highest we got was $113 before turning down again. I would not go long here until we see a broader market reversal.