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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...

MICROSOFT can reach its EMA.200?

Now let's enlarge the chart and see if this rebound is playable in the short term:

MICROFOFT can reach its EMA.200?

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/

About the author

James D. Touati

James D. Touati aka. The Wolf of Zurich is a French trader specializing in futures and CFD trading, a technical analyst and stock market trainer. In a pursuit of earning a living from trading, he has developed a profitable trading method successfully, consisting of a mix of tick data, Ichimoku, Fibonacci retracements, levels and Wolfe Waves.

credits: The Wolfe Wave pattern was originally developped by Bill Wolfe from New York. More information on his website.

James does not only speak 5 languages fluently (French, English, Russian, Spanish, Arabic), but with his solid industrial experience (former CEO JB aviation (Hong Kong), former Chairman M9 global group (link PETRONAS), former Partner CHINESE BUSINESS CLUB (Paris) he is a proven global entrepreneur as well.

Furthermore he has got a background as an intermediation and interconnection specialist for the oil&gas and the aviation industry in the Middle East and East countries.

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