u s shares highlights microsoft corp 85572015
<p>Microsoft Corp (MSFT) – Potential upside swing move towards range top Key elements The recent down movement from the 23 December 2014 high has setbacked […]</p>
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Microsoft Corp (MSFT) – Potential upside swing move towards range top
Key elements
- The recent down movement from the 23 December 2014 high has setbacked into the gap support of 46.60/45.90.
- Recent price action has formed a bullish “Inverted Hammer” candlestick pattern at the 46.60/45.90 gap support.
- The 46.60/45.90 gap support confluences with the 61.8%/76.4% Fibonacci retracement from 17 December 2014 low to 23 December 2014 high.
- The lower boundary of its long-term ascending channel in place since September 2013 is now at 44.90.
- The Stochastic oscillator has reached its “extreme” oversold level.
Levels (1 to 3 months)
Intermediate support: 46.60/45.90
Pivot (key support): 44.90
Resistance: 48.89 & 50.05
Next support: 42.20
Conclusion
Based on the above mentioned elements, a bullish reversal is round the corner for Microsoft. As long as the monthly pivotal support at 44.90 is not broken, Microsoft is likely to see a push up towards its range top at 48.89.
On the other hand, failure to hold above 44.90 may damage the long-term bullish trend to see the start of a correction to target 42.20 in the first instance.
Source: Charts are from eSignal
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The information contained in this material is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs. All queries regarding the contents of this material are to be directed to City Index Asia Pte Ltd.
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