Purple trendline still remains huge. Finally broke through it, a retest of the trendline was going to happen and did. Only thing is, it broke back below the line. Signaling a potential "false break". Next couple days will be critical. Likely going to see some dip buying, but the strength of that will be key. Strong bounce, and close back above the trendline Today or Tomorrow, and the bull may continue on. If it retests and fails to close above it, that's gonna be a big red flag.
If the ladder occurs, I'd expect a big shot straight down to 183. MSFT earnings will be key tonight on pushing this thing one way or the other. Been one of the hottest big tech names since the Dec lows.
If the ladder occurs, I'd expect a big shot straight down to 183. MSFT earnings will be key tonight on pushing this thing one way or the other. Been one of the hottest big tech names since the Dec lows.
Comment:
Tried to break back above both trendlines, and failed hard to hold it. Looks pretty good back to 187 here.
Tried to break back above both trendlines, and failed hard to hold it. Looks pretty good back to 187 here.
Almost missed this. Trendline from the Sept highs and May highs intersects with the longterm purple trendline at the end of July (What a coincidence?) I like the chances of running up to that area around the end of July, and likely seeing an impulsive move one direction or the other. Fed obviously being the catalyst.
Close below = Strong sell off?
Close above = Strong buy?