MoneyPatterns

MSFT - Update - Not Ready - Pullback Coming

NASDAQ:MSFT   Microsoft Corp חברת מיקרוסופט
Note - I am long term bullish on MSFT, but bearish on the upcoming trend. I trade the chart and pattern.
This trade is not completely ready for Short or Puts, but is getting very close.

MSFT-
Ascending wedge is coming to an end.
Price position in wedge is closer to breakdown point (support) than breakout point(resistance).
Retesting any of the moving averages would allow MSFT to go higher. Pullback to green line is roughly 6% (great for options).
Multiple gaps close enough to fill down.
Almost no volume today on MSFT, similar to SPY.
Price could break the pink wedge at either white arrow.
Bullish trend is over extended and exhausted. Bearish trend is coming (in my opinion within a matter of weeks max).

I will update the chart when/if I enter the position. If anyone needs an update on the chart, I am happy to post if you are in the position.
Let me know by PM or by replying in this chart's comments.

Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY.
Short SPY and AAPL.



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