Let's start by looking at the weekly timeframe chart...
โ An ATH was hit in July but the candle in which the ATH hit closed red and this preceded a correction.
โ A new All-Time High hit last month with the candle again closing red, which opens the door for a new but stronger correction. These are early signals.
โ The weekly RSI is showing a 2 year strong bearish divergence, it peaked November 2021 while the stock peaked November 2023.
โ On the daily timeframe MSFT still trades above EMA10 but a recent bearish candlestick pattern showed up after the new ATH.
โ We have really high buy volume 15-Dec but prices failed to move higher, a sign of weakness.
There is potential for a drop.
Additional confirmation is needed, is still very early but the bullish trend is losing momentum.
Namaste.
โ An ATH was hit in July but the candle in which the ATH hit closed red and this preceded a correction.
โ A new All-Time High hit last month with the candle again closing red, which opens the door for a new but stronger correction. These are early signals.
โ The weekly RSI is showing a 2 year strong bearish divergence, it peaked November 2021 while the stock peaked November 2023.
โ On the daily timeframe MSFT still trades above EMA10 but a recent bearish candlestick pattern showed up after the new ATH.
โ We have really high buy volume 15-Dec but prices failed to move higher, a sign of weakness.
There is potential for a drop.
Additional confirmation is needed, is still very early but the bullish trend is losing momentum.
Namaste.
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followalan.com
๐จ Free PREMIUM Trade-Numbers
alansantanatrades.com
๐ฅ New Lowest Pricing Ever โ Easy PREMIUM LIFETIME Access
lamatrades.com (Since 2017)