| Log In | Register Now
MSFT – Microsoft Corporation – The multinational computer technology corporation's Point & Figure chart shows prices bouncing off main bullish support line at $19.25 heading up. From October 07 High Pole at $37.50 prices declined sharply reaching $33.25 before starting to trade sideways within the range $32.75/$36.50. The overall outlook changed in January 08 when the movement break through the main bullish support line at $33.50 switching to bearish mode. A piecing Long Tail Down pattern developed at the end of January 08 projecting a downside target at $14.00. For the following 6 months prices traded sideways again with base at $27.00 until June 08 double bottom breakout at $26.75 which signaled the opening of a new wave of contraction. A pattern of lower highs and lower lows reached $17.50 in November 08 where prices found support. The reaction bounced off $21.25 resistance twice before the February 09 final sell off in the area of $14.90 which seems to be the turning point. The main bearish resistance line penetration at $18.75 confirmed by the double top breakout unveiled the trend reversal. Lately the uptrend violated a key resistance level at $20.00 adding more weight to the bullish evidence. The double top in the area $21.00, a former support level during decline, pushed prices back to the main bullish support line where the uptrend resumed. Relative Strength vs the market is positive predicting an outperformance for the near future. Stay long and increase at triple top breakout at $21.25 with targets set at $24.80 and $26.60. On the downside close all long positions at penetration of the main support line now crossing at $19.25 with possible contraction to $13.75.
Who Is Paul McCartney Trends on Twitter; Users Wonder Why
Dad Shoots Laptop Video Goes Viral on YouTube After Daughter’s Facebook Rant [VIDEO]
Free Edition
TAKE A TOURWe value your privacy. Your email address will not be shared.
