$MSFT at Key Support Levels
Bearish Argument:
Below all major daily moving averages
Obvious macro-downtrend
Ugly daily candle on 05/09... Bears in control.
Bullish Argument:
Trading near bottom of downward channel (259.75 & falling)
100-Week SMA entering the channel from below, offers second layer of support (around 261).
Price closed above Spring 2021 Highs, offering third layer of support (261.66).
Trade Idea:
Long
Could offer a controlled, low risk, high reward long trade above 2021 Spring highs (261.66), with a stop loss below the 100-week (261). However, any move below the 100-week could finally knock Microsoft out of the channel to the downside.
Short
Looks very weak if the price opens below 261. Levels of support will become wall of resistance for any half-hearted bounces to the upside.
NOTE: BEWARE OF CPI DATA TO BE RELEASED ON 05/11/2022.
Below all major daily moving averages
Obvious macro-downtrend
Ugly daily candle on 05/09... Bears in control.
Bullish Argument:
Trading near bottom of downward channel (259.75 & falling)
100-Week SMA entering the channel from below, offers second layer of support (around 261).
Price closed above Spring 2021 Highs, offering third layer of support (261.66).
Trade Idea:
Long
Could offer a controlled, low risk, high reward long trade above 2021 Spring highs (261.66), with a stop loss below the 100-week (261). However, any move below the 100-week could finally knock Microsoft out of the channel to the downside.
Short
Looks very weak if the price opens below 261. Levels of support will become wall of resistance for any half-hearted bounces to the upside.
NOTE: BEWARE OF CPI DATA TO BE RELEASED ON 05/11/2022.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.