SAMT Blog
Can MICROSOFT reach Its 200-day moving average?
16. August 2023, by James Touati
Technical Analysis, Wolfe Waves
A Wolfe wave has been detected on MICROSOFT and we are on the bottom of a major support located between 342-323. A rebound is possible in a short terme double bottom (candle of May 25, 2023), but...
Now let's enlarge the chart and see if this rebound is playable in the short term:
On July 26th and 27th, 2023, MICROSOFT broke an important trendline (dotted white line). In addition a breakout of the moving averages MA.50 and EMA.50 were frankly broken, the 27th of July ,2023. Which is a strong signal regarding the psychology of traders.
So there is a high probability that MICROSOFT is heading towards Its 200-day exponential moving average.
Also, the major support has turned into a major resistance now, which leads us to believe that the following levels are possible on the downside:
TP1 and TP2 already reached as I proposed on Tradingview on the 27th of July, in the morning (link below).
TP3: 313-309
TP4: 298 (EMA.200)- 290, é (50% retracement Fibonacci).
Stay safe, and enjoy your trades.
For more details, you can contact me here by email, or on the following networks:
LinkedIn: http://linkedin.com/in/james-d-touati-941a8ba6
Tradingview: https://fr.tradingview.com/u/james-samt/
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