MSFT showing a buy signal on Daily although Weekly view showing capitulation and downtrend has started.
In my opinion, we do not see previous weeks high of $152.50 before going down into Xmas.
White channel was added to pink ascending wedge. Wick down on this week confirmed channel.
Breakdown of white channel around $146.65 will confirm downtrend.
We need to break the 10WeekMA which will occur in 2 weeks or less in my opinion.
Capitulation has started and going back in chart, does not stop until a selloff occurs.
Based on previous trends, we should start accelerating the downtrend into the Xmas week (2.5 weeks).
I am overall bullish on MSFT. However, the chart shows a pullback is warranted. This doesn't mean I don't like MSFT.
I am not active in this position. I am updating for the community.
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, and VIXY.
Short SPY, AAPL, ROKU
In my opinion, we do not see previous weeks high of $152.50 before going down into Xmas.
White channel was added to pink ascending wedge. Wick down on this week confirmed channel.
Breakdown of white channel around $146.65 will confirm downtrend.
We need to break the 10WeekMA which will occur in 2 weeks or less in my opinion.
Capitulation has started and going back in chart, does not stop until a selloff occurs.
Based on previous trends, we should start accelerating the downtrend into the Xmas week (2.5 weeks).
I am overall bullish on MSFT. However, the chart shows a pullback is warranted. This doesn't mean I don't like MSFT.
I am not active in this position. I am updating for the community.
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, and VIXY.
Short SPY, AAPL, ROKU