MICROSOFT How to trade as the Earnings approach?
Microsoft (MSFT) is set to report the Earnings on Tuesday and last time we gave gave a pull-back buy signal (December 01 2023, see chart below) we caught the exact bottom:
Our original long-term Target was $460.00 but we have to downgrade it to $440.00. On the short-term it may be wise to take most or at least some of the profit if the 1D MA20 (red trend-line) as this has been a medium-term sell signal on July 26 2023. It's not just potentially lower than expected Earnings that may turn the trend bearish on the medium-term but also the Fed, which announce the Rate Decision on Wednesday.
As a result, if the price breaks below the 1D MA20, we will short and target the 1D MA100 (green trend-line) at $370.00 where we will add another long-term buy position. Notice that the 1D CCI indicator and the correlation with the 2023 price action, shows that both scenarios are equally likely at the moment.
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Our original long-term Target was $460.00 but we have to downgrade it to $440.00. On the short-term it may be wise to take most or at least some of the profit if the 1D MA20 (red trend-line) as this has been a medium-term sell signal on July 26 2023. It's not just potentially lower than expected Earnings that may turn the trend bearish on the medium-term but also the Fed, which announce the Rate Decision on Wednesday.
As a result, if the price breaks below the 1D MA20, we will short and target the 1D MA100 (green trend-line) at $370.00 where we will add another long-term buy position. Notice that the 1D CCI indicator and the correlation with the 2023 price action, shows that both scenarios are equally likely at the moment.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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