MICROSOFT testing the most important Support of the Cycle.

Microsoft (MSFT) hit last month its 1W MA50 (red trend-line) and held. The rebound seems short-lived however as again half-way through December, the market is about to re-test that Support again.

This is a critical Support level for the Bull Cycle that started upon the November 2022 market bottom, as the last two times this broke, the price pulled-back to the 1M MA50 (blue trend-line).

That level has in fact been the ultimate long-term Support since 2012, the most important level of the Channel Up that started after the 2008 Housing Crisis.

We also see here that almost all of the strong bearish corrections within this pattern, hit the 0.382 Fibonacci retracement level and rebounded.

As a result, if 1W MA50 breaks again, we expect the subsequent correction / Bear Cycle to hit $400 at least.

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