September Forecast for Microsoft

I believe a 2.5 - 5% correction is the most likely scenario for Microsoft in September if it closes below 297.

Shreds of evidence support this Idea:

1- Getting out of the bullish regression channel
2- making outside day pattern with increased volume price
3- price decline after a lower high pattern



Microsft did not experience any meaningful correction in the past 4 months:



Fibo levels:


Weekly Chart: Schiff Pitchfork



Microsoft has a significant positive correlation with S&P 500:


Conclusion:
Microsoft is short unless closes above 305 in the daily chart with high volume.