When a stock rally's fast in a month's time chances are they form rising wedges. That's something I've learned in my years trading.
MSFT finish with a bearish engulfing at the top of a rising wedge. If we break support tomorrow , I think the start of a reversal is in play and a possible correction.
First target would be 333 fibonacci support . If we fall through that area, that would be a double top which I think could lead us to the 50sma or gap close at 312
MSFT finish with a bearish engulfing at the top of a rising wedge. If we break support tomorrow , I think the start of a reversal is in play and a possible correction.
First target would be 333 fibonacci support . If we fall through that area, that would be a double top which I think could lead us to the 50sma or gap close at 312
