Hey Traders,
I'll keep this as simple as possible (like always lol). MSFT has offered some of the best trading opportunities for the past couple years along with other stocks.
After earnings MSFT tested the dot.com highs and it makes sense that it will sell off on a gap up to that area. Considering the huge psychological factor at play here it would make sense that this stock would sell off all the way to the 55.73 support area creating a new trading opportunity to go bid at 55.73 with a 60.00 long trade target.
The other scenario and more aggressive approach is to go bid at the 58.36 support level with a 62.00 price target (-27% Extension).
This is not a signal but merely my own personal technical view of the stock price and ways I look to personally trade. Your entry all depends on your trading plan, and many other factors.
Happy Trading =)
I'll keep this as simple as possible (like always lol). MSFT has offered some of the best trading opportunities for the past couple years along with other stocks.
After earnings MSFT tested the dot.com highs and it makes sense that it will sell off on a gap up to that area. Considering the huge psychological factor at play here it would make sense that this stock would sell off all the way to the 55.73 support area creating a new trading opportunity to go bid at 55.73 with a 60.00 long trade target.
The other scenario and more aggressive approach is to go bid at the 58.36 support level with a 62.00 price target (-27% Extension).
This is not a signal but merely my own personal technical view of the stock price and ways I look to personally trade. Your entry all depends on your trading plan, and many other factors.
Happy Trading =)