$GOOGL OverreactionThis situation is quite silly. The media is blowing it out of proportion and believes OpenAi is the second coming of Jesus. Google has 91% market share of Search, and Bing has about 2% share. Microsoft, part owner of OpenAi, plans to grow their search efforts and compete with Google search. The threat is that Bing may take a couple percent. In reality, people won't be switching their browsers where they have their passwords, addresses, bookmarks, email account, extensions, payments, and more saved over an implementation of ChatGPT, which they can just use separately from search.
Remember, people hate change, especially when it ruins convenience. ChatGPT is cool, and I've been playing with it since December, it has plenty of it's own problems. No one has invested more in Ai then Google.
As far as the trade goes. Any buys at this level are a good entry. $85-$90 even better.
Microsoft
MicroSoft Going Hard on Google (unveils ChatGPT vs BARD) Charts first: 258.78 is double support we can count on, structure is quite strong.
313 will be our main target for 2023 and it could come fast as the news are Huge:
Microsoft has announced a new version of its search engine Bing, which incorporates the latest in artificial intelligence.
The overhaul deploys OpenAI's ChatGPT technology, which has taken the world by storm since its launch last year.
The move is by far the biggest threat Google has seen to its dominance in web search - and marks the beginning of an AI arms race between the companies.
"The race starts today," Microsoft boss Satya Nadella said.
Developed by Microsoft-backed OpenAI, ChatGPT uses deep learning techniques to generate human-like responses to search requests.
At the same time, GOOGLE announces their response to ChatGPT, in a race to come ahead of the popular AI service funded by Microsoft.
Google’s Bard AI will soon enter beta and will be available to select testers around the world, months after OpenAI’s ChatGPT exploded in popularity.
This will be interesting to watch and I do have a feeling that Google will win but the race will benefit Microsoft, at least temporarily.
One Love,
the FXPROFESSOR
US equity on a bull run as big tech finds its mojo In recent days we’ve heard bearish equity calls from prominent strategists at Morgan Stanley, JPM and Goldman Sachs all calling for lower levels in equity markets – as with any market call, it’s the logic and rationale that is of most interest, and it’s the idea that the investment bank sales team pitch to their clients. These calls help market players become more aware of the triggers for a move, but what the market does can often be another thing.
In reality in trading, price is all that matters.
One could say fed funds terminal pricing, which now sits at 5.15% should see risky assets headed lower, but this is far from true. US equity is pushing higher driven by tech and some cyclicality (the S&P500 energy sector closed +3%) and while much of the move of late has been driven by low-quality stocks, we now see big tech showing real leadership again.
Jay Powell acknowledged the disinflationary progress we heard in the FOMC statement and suggested fed funds could go higher if the labour market gets tighter – this puts further emphasis on the next NFP report on 11 March. Prior to that though, next week’s US CPI print is the marquee event risk and could greatly affect the bullish flow if we see core CPI above 5.7% (the consensus is for 5.5% YoY) – this would see US bond yields spike all across the curve and long-duration assets smacked hard, as traders go about their business thinking we could get a fed funds rate into 5.5% and above.
Of course, the opposite is true if we show further moderation in US core CPI below 5.4% and the equity bulls will add to a growing long position – volatility will fall and active managers will chase the tape. Strength, as we know, often breeds strength.
A rally in tech, driven by Microsoft, Apple, and Alphabet, is clearly helping – the space is cranking up and the AI battle ramps up, with MSFT rolling out new versions of its search engines that incorporate ChatGPT. MSFT (+4.2%) looks truly bullish on the daily, having found a platform off the 200-day MA and subsequently broken to new cycle highs. Google (+4.6%) also revealed a rival to ChatGPT, oddly named “Bard” and we watch its Search and AI-focused event in Paris in the session ahead.
Cyclicals are working well too, and after a momentary blip look to re-establish a bullish performance relative to defensive areas of the market – a resumption of a move higher in crude and Chinese markets would help.
While the street beats a more pessimistic message on stocks, the fact that tech is finding its mojo means long NAS100 / short US30 remains a favoured tactical play and one I’ve been pushing in the ‘Trade Off’ series – when 10% of the Dow Jones index is weighted towards United Health you see how the index typically underperforms here – the joys of price-weighted markets. That said, for those who are less au faux with long/short trading then I look for a close above 4180 (in the US500) suggests a greater probability of testing 4300, where I have no doubt the shorts sellers will be very keen to look at new exposures.
The NAS100 needs a break of 12,800 but I am either long or neutral but shorts on any timeframe outside of intraday seem a lower probability for now.
Microsoft -> All Timeframes Are BullishHello Traders,
welcome to this free and educational multi-timeframe technical analysis .
Microsoft is looking extremely juicy right now. From a weekly perspective we just created a long term double bottom and we also broke above a long term downtrend line.
There is definitely the possibility that after a short term pullback, we will start the next bullrun from here, creating new all-time-highs in the process.
From a daily perspective I am just waiting for a short term retest of the weekly neckline of the double bottom and then there is a very high chance that we will also see the daily continuation to the upside from here.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
AI: Google challenges Microsoft and launches BardInvestment confirms how the Silicon Valley giants are ready to do battle over what is believed to be the new frontier of technology.
Google (NASDAQ:{{6369|GOOGL}}) is challenging Microsoft (NASDAQ:{{252|MSFT}}) and launching Bard, the rival to ChatGPT, the OpenAI application on which the Redmond giant has bet billions of dollars. The introduction of Bard, the name seems to evoke William Shakespeare, the Bard par excellence of Anglo-Saxon culture, confirms how the race for artificial intelligence is accelerating, with Silicon Valley giants poised to do battle over what is believed to be the new frontier of technology.
In recent days Mountain View had announced a $300 million investment in the start-up Anthropic, an AI safety and research company that's working to build reliable, interpretable, and steerable AI systems. And now it is pushing further ahead with the introduction of Bard, which will initially be available for testing to trusted testers and then later be introduced to the general public, similar to how OpenAI did with ChatGPT.
"Secure, quality responses" - The testers have been selected, they are a geographically diverse group that will help Google improve and understand users' use of artificial intelligence. "We will combine external feedback with our internal testing to make sure that Bard's responses are quality, secure, and grounded in the real world," explained Mountain View CEO Sundar Pichai, stressing that the testing phase will help Google "continue to learn and improve Bard's quality and speed."
Bard aims to generate detailed answers to simple questions. Its operation is based on LaMDA, the Language Model for Dialogue Applications that made headlines last year for being called "sentient" by one of Google's engineers.
ChatGPT's success - Microsoft has invested billions of dollars in OpenAI, the company behind the popular ChatGPT and believed to be one of the world's top three labs for artificial intelligence. OpenAI has recently become a household name for millions of people thanks to the success of ChatGPT, which, since its introduction in November, has seen a boom in users and opened a heated debate about the potential and application of artificial intelligence, forcing schools and universities, among others, to begin rethinking their teaching models.
ChatGPT is indeed able to create text like a human being, using clear, defined prose and appropriate punctuation. For Microsoft therefore a huge chance to gain ground in the face of fierce rivals who, however, do not want to fall behind. As demonstrated by Google's Bard and Mark Zuckerberg's commitment to make meta one of the leaders in artificial intelligence.
Microsoft - Extreme Bearish SentimentI see a gruesome bloodbath in the American stock market. Stocks are showing heavy bearish sentiment. Microsoft rose to as high as $349. A drop started at that price point and will continue right down to 141. A BREAK OF STRUCTURE at 141 will then send the price falling to around $14 (My Point Of Interest).
Things are really getting interesting!!!
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Smart Money Concepts are king in the market. Move with the big sharks or get ravaged!!!
Microsoft -> Very Bullish Inverted Head And ShouldersHello Traders,
welcome to this free and educational multi-timeframe technical analysis.
Microsoft just recently perfectly tested and rejected a quite strong and obvious previous support/resistance zone towards the upside. It also seems like Microsoft is about to create a double bottom from a weekly perspective, which is generally speaking a very bullish pattern, leading to more upside potential.
On the daily timeframe we actually have a quite interesting situation. You can see that the market is currently crating an inverted head and shoulders and just yesterday and today broke above and retested the neckline, which again is simply previous resistance which is now turned support.
Now from here I do expect further continuation towards the upside, confirming the bullish inverted head and shoulders pattern.
Thank you for watching and I will see you tomorrow!
MSFT daimond bottomThe diamond bottom pattern is not a common formation but is considered a strong bullish reversal pattern amongst technical analysts. This bullish reversal pattern first expands from the left-hand side and then contracts into a narrower range, until price breaks out above the resistance line and completes the pattern.
Microsoft: You can do it 💻Despite the recent outage, Microsoft is fighting its way back to the top and should exceed the resistance line at $265.00 soon to continue its upwards slope. Our alternative scenario with a probability of 40% implies that the stock could tire and drop below the support line at $212.25, instead of rising to the top. In this case, the course would sink into the grey target zone to fulfill the superior grey wave alt. IV before heading back North in the longterm.
MSFT Microsoft Bought 49% Stake in OpenAI creator of ChatGPTMSFT has reached our Buy area:
Microsoft purchased a 49% stake in OpenAI, creator of ChatGPT, for $10 billion.
Which i think it will turn out to be the best investment in MSFT history!
Microsoft Corporation (MSFT) integrates Chat GPT into its Bing, Office, and it Azure service!
Now looking at the MSFT Microsoft options chain ahead of earnings , I would buy the $245 strike price Calls with
2023-2-27 expiration date for about
$1.60 premium.
If the options turn out to be profitable Before the earnings release, i would sell at least 50%.
Or at least buy shares for the long run! They will compete with GOOGL thanks to OpenAI.
Looking forward to read your opinion about it.
Trading Idea 007: MicrosoftMarket Conditions:
- bearish trend
- correction movement
- bullish sentiment in the market
Key Level and Lines:
- $241.51 resistance
Trading Ideas:
- go long after a consolidation around the resistance
- a false breakout and bearish sentiment in the market = trade opportunity for shorting.
Microsoft (MSFT) Q2 2023 EarningsMicrosoft (MSFT) reported the second fiscal quarter 2023 financial results after the market close. EPS beat the low estimates but revenue came below expectations, Azure cloud unit showed strong growth. Here are the key points:
Earnings per share came at $2.32 a decline from $2.48 a share a year ago but topping the expectations of $2.27.
Revenue for the quarter came at $52.7 billion below the expectations of $52.94 billion. Revenue growth is 2% (YoY) which is the slowest pace since 2016.
The Intelligent cloud revenue reported at $21.51 billion below the estimates of $21.43 billion.
Server products and cloud services revenue increased 20% driven by Azure and other cloud services revenue growth of 31%.
Azure grew 38% (YoY) topping the consensus of 37%. Here are the last quarters Azure growth:
Q3 ’21: 48%
Q4 ’21: 46%
Q1 ’22: 49%
Q2 ’22: 46%
Q3 ’22: 42%
Q4 ’22: 38%
Revenue in Productivity and Business Processes was $17.0 billion.
Revenue in More Personal Computing was $14.2 billion and decreased 19%.
Operating income was $20.4 billion GAAP and $21.6 billion non-GAAP
Diluted earnings per share were $2.20 GAAP and $2.32 non-GAAP
Here is Microsoft’s $MSFT December Quarter Revenue since 2006
2006: $12.5B
2007: $16.4B
2008: $16.6B
2009: $19B
2010: $20B
2011: $20.9B
2012: $21.5B
2013: $24.5B
2014: $26.5B
2015: $23.8B
2016: $25.8B
2017: $28.9B
2018: $32.5B
2019: $36.9B
2020: $43.1B
2021: $51.7B
2022: $52.7B
Microsoft Analyst’s Expectations and latest Price Target
Analysts expected Microsoft to report earnings per share of $2.27 and revenue of $52.94. Revenue growth for the Azzure segment is expected to grow by 37%.
On January 20, Mizuho reiterated Microsoft at Buy and reduced the price target from $305 to $290. Guggenheim on January 17, downgraded MSFT from Neutral to Sell and set a price target of $212.
MICROSOFT - EARNINGSMSFT is trading under key resistance as seen by the white trendline. The price action and trend still favors downside bias however there is a key gap fill around $257 that would be a perfect short level if it popped off of earnings.
Based off of the rally in the indexes, MSFT has been a lagger in tech which could be displaying relative weakness.
Trader thoughts - is the risk rally for chasing?A tough day for the equity bears or those positioned short risk – but why we’ve seen such upbeat risk flow is the subject of debate – for me, the idea of not overthinking things is advantageous - always trying to justify a move doesn’t offer much edge when trading – it’s about extracting the most out of a trade (if on the right side of the move), but reacting and managing the position if offside. Being wrong is part of the game, but as the old saying goes “just don’t stay wrong”.
The question now is do you chase the move in equity and risk FX?
Personally, I have my views on the moves – I think this is a portfolio shift – the market has been so underweight US equity and long Europe, UK, and China and ahead of big tech quarterly earnings we’re seeing a repositioning – back into big US tech, into growth from value, while cash levels (as a % of AUM) are being drawn down – the recent BoA/ML fund manager survey offers interesting guidance here.
There is nothing to change a market narrative and affect sentiment than a market going up with a increased rate of change and while fund managers don’t like to chase a market, so often strength begets strength – especially when we’re above the 200-day MA and price has finally closed above the Jan 2022 downtrend. The fact NAS100 cash volumes were 39% above the 100-day average shows the flows, especially as the gains came when US treasury yields were up across the curve.
The trade seems to be long NAS100/short UK100 (or short Europe) – although we can do it through individual stocks and ETFs too – long QQQs is a proxy for the tech trade although my preference is to use indices for pairs trades (better leverage and limited gapping risk). We’re also seeing long XRT (retail ETF/short SPY) working well, and I think there is more juice here. Microsoft is the clear catalyst now to the tech trade, where they report after-market in the session ahead – the market expects a -/+4% move on earnings and we know they do have a decent pedigree, having beaten consensus EPS and sales assumptions in 7 of the past 8 quarters.
What is interesting is the flow-on effects in FX markets – buying AUD, NZD or NOK makes sense as they are the high beta risk plays – ok, we haven’t seen much participation from the commodity complex – China is offline for Lunar NY - but as a rule of thumb if growth equity is working then traders will gravitate to buy the AUD. The question here with AUDUSD having broken out and made new cycle highs has this the momentum to test the August 2022 highs of 0.7120? This is where running a simple mechanical stop (such as a 3- v 8-day EMA crossover) keeps you in the trade.
EURUSD and GBPUSD are less clear as the beta to equity are far lower and one could argue that as US equity outperformed, we’ve seen capital flow to the USD – hence the sell-off from 1.0927.
Chasing rallies never feels right – in fact, most retail traders will feel more compelled to sell the rip (Pepperstone clients are actually skewed perfectly 50/50 on open positions in NAS100) - but consider with Microsoft, IBM and Intel hitting us with numbers this week and the likes of Apple and Alphabet next week – if the bar is still sufficiently low enough and earnings come out topside – a big if of course – then these mentioned dynamics could still have good legs.
MSFT Potential for Bearish Continuation| 20th January 2023Looking at the H4 chart, my overall bias for MSFT is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market.
Looking for a pullback sell entry at 244.79, where the overlap resistance and 50% Fibonacci line is. Stop loss will be at 263.91, where the recent swing high is. Take profit will be at 213.47, where the previous swing low is.
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Cloud computing: what are the big players telling us?Each earnings season, we become accustomed to certain patterns. One pattern involves the biggest tech companies reporting earnings before many other smaller and medium sized firms. In what we know is a very difficult economic backdrop, it’s important to look for signals that some of the world’s largest companies are giving us.
Additionally, since Microsoft Azure, Amazon Web Services, and Google Cloud are three of the world’s largest providers of public cloud infrastructure, it’s possible that these reports contain details about how companies are spending more broadly on technology. Combining the annual revenues of just these businesses (recognising that they are each part of larger companies) we see spending on cloud infrastructure annually in the hundreds of billions of dollars.
We believe that there is a difference between these three large public-cloud infrastructure providers and the much greater number of far smaller Software-as-a-Service (SaaS) providers. These three firms, for instance, are a major part of most market capitalisation-weighted benchmark indices. They are at a point in their life cycles where they should exhibit sensitivity to broad, global economic activity and growth expectations.
What can they tell us? The most important thing that we think the results of the big public-cloud providers can tell us regards trends in broad-based information technology spending on cloud computing. Eventually, the enterprise market will have ‘moved to the cloud’ and the growth rates of these large players should drop significantly. We are not yet there so, in this type of environment, we really want to see the resilience of cloud spending in the face of a tougher economic backdrop. There haven’t been that many economic slowdowns since the genesis of the cloud business model, and there certainly haven’t been sustained periods of inflation or central bank tightening.
What don’t they tell us? The smaller SaaS providers tend to help their customers with much more specific business initiatives. It may be accounting, compliance, cybersecurity, data analysis…the list is becoming endless. These companies are more idiosyncratic, in that their individual results do not translate to broad trends as clearly as the biggest company results would. However, we might see strong spending in cybersecurity, for example, and this may not be as clearly visible in the results of the biggest companies.
Our initial sense is that it is important to remember that, in many cases, businesses transitioning to the cloud is done to create efficiency and to accomplish more while investing either less time, less money or less of both. We think that this overall trend will continue, but it likely won’t continue at the rates seen in recent years if the global backdrop is characterised by a deteriorating economic picture. It’s also the case that many cloud-focused companies have seen their share prices drop significantly in 2022. This doesn’t mean that all the risk is ‘priced-in’ by any means, but it does tell us that the valuation risk of the space is lower relative to the much higher valuations seen towards the end of 2021.
Microsoft
Microsoft is a leader in the cloud space, and it’s important to note that the Azure infrastructure platform is one piece of the overall ‘Intelligent Cloud’ effort. Most attention goes to the year-over-year revenue growth rates, so it is instructive to first ground any discussion in some of the recent quarterly figures, which are shown in year-over-year terms for Azure specifically below1:
30 September 2021: 50%
31 December 2021: 46%
31 March 2022: 46%
30 June 2022: 40%
30 September 2022: 35%
It also helps to look at the overall revenue base to help ground any further thoughts about reasonable growth. While the quarterly results do look at more than the pure Azure revenues, broadening the picture to ‘Intelligent Cloud’, we see that Microsoft’s Intelligent Cloud revenue was $16.91 billion as of 30 September 2021, and that this figure increased to $20.33 billion as of 30 September 2022. This is a quarterly figure, and it is beginning to be quite large, so part of the growth rate deceleration that we may be seeing could be attributed to the size and scale of these figures.
Analysts are seeing Azure customers very focused on optimising their cloud workloads, which helps them to save money, and it’s also the case that there is evidence that customers are pausing on new workloads. It is reasonable to think that, in an environment of slower economic growth, consumption-based business models like public cloud infrastructure may indicate shifts in customer-behaviour toward more essential workloads2.
Amazon
Amazon Web Services (AWS) is the leading public cloud infrastructure platform based on market share, often cited as having a figure around 40% of the total. If we consider the year-over-year growth rates from recent quarters3:
30 September 2021: 39%.
31 December 2021: 40%
31 March 2022: 37%
30 June 2022: 33%
30 September 2022: 27%
Similar to the case of Microsoft, we are seeing decelerating growth rates. However, if we look to 30 September 2021, the trailing 12-month net sales for AWS was at $57.2 billion, and this same figure as of 30 September 2022 is $76.5 billion. These are getting to be quite large numbers.
Also similar to the story with Microsoft, enterprise cloud customers are looking to reduce costs within the AWS ecosystem. Analysts are continuing to note the long-term potential and how this differs from the situation within the shorter-term macroeconomic backdrop4.
Alphabet—Google Cloud in focus
Google Cloud, within Alphabet, does trail both Microsoft Azure and AWS in terms of market share, but Alphabet as a whole runs a formidable, cash-rich business, so they have been known to make large, splashy deals to gain high-profile cloud customers. If we note the year-over-year growth figures5:
30 September 2021: 45%
31 December 2021: 45%
31 March 2022: 44%
30 June 2022: 36%
30 September 2022: 38%
The growth rates are similar to what we noted with Microsoft Azure and AWS, but the dollar figures are much lower. As of 30 September 2021, the quarterly revenue from Google Cloud was reported at $4.99 billion, and then as of 30 September 2022, this figure had grown to $6.87 billion.
It is notable that, while Microsoft and Amazon saw quarter-to-quarter decelerations in growth rates, Google Cloud is cited as a bright spot of growth acceleration in Alphabet’s results. However, we note that Alphabet’s core business was certainly not immune to deteriorating economic conditions, and that the revenue figures are growing from a smaller overall base.
Conclusion: the economy matters but this is not the year 2000
The primary conclusion that we reach at this point is that economic conditions do matter for cloud computing companies. We have already seen their share price performance for 2022; it is crystal clear that market participants have re-assessed the appropriate valuation multiples for these firms considering higher inflation and higher interest rates. We will be watching closely to see how much revenue growth these companies can maintain as they continue to report earnings for the period ended 30 September 2022. The biggest companies, so far, have reported a range of 27% to 38%. It clearly isn’t the euphoric environment of 2020 any longer, but we don’t think it appropriate to say a ‘tech bubble is bursting’ either.
Sources
1 Source: Microsoft’s First Quarter Fiscal Year 2023 Results, 25 October 2022. Revenue figures presented in the generally accepted accounting principles (GAAP) format.
2 Source: Sills, Brad & Adam Bergere. “Expected Azure decel likely temporary, cyclical; model largely derisked.” Bank of America Securities. 26 October 2022.
3 Sources: Amazon’s Quarterly Earnings Conference Call Slides for the specific periods ended: 30 September 2022, 30 June 2022, 31 March 2022, 31 December 2021 and 30 September 2021. The revenue growth figure is taken as the year-over-year growth without foreign exchange adjustment.
4 Source: Post, Justin & Michael McGovern. “Expecting Less this Holiday.” Bank of America Securities. 28 October 2022.
5 Sources: Alphabet’s Quarterly Earnings Announcements which specify the revenues from different business units on a quarterly basis for the periods ended: 30 September 2022, 30 June 2022, 31 March 2022, 31 December 2021 and 30 September 2021. Percentage growth is calculated directly from the figures that Alphabet reports for Google Cloud, all in USD terms.
Elliott Wave View: Microsoft (MSFT) Looking to Extend the Next LCycle from 12.13.2022 high is in progress as a 5 waves impulse Elliott Wave structure. Down from 12.13.2022 high, wave 1 ended at 233.87 and rally in wave 2 ended at 245.77. Internal subdivision of wave 2 unfolded as a zigzag structure. Up from wave 1, wave ((a)) ended at 240.87 and pullback in wave ((b)) ended at 233.94. Final leg higher wave ((c)) ended at 245.77 which also completed wave 2. Wave ((c)) unfolded as a 5 waves diagonal where wave (i) ended at 240.8 and wave (ii) ended at 233.94. Wave (iii) higher ended at 241.92, pullback in wave (iv) ended at 236.66 and final leg higher wave (v) ended at 245.77.
The stock has resumed lower in wave 3. Down from wave 2, wave (i) ended at 237.40 and rally in wave (ii) ended at 241. The stock resumed lower in wave (iii) towards 225.96 and rally in wave (iv) ended at 229.89. Wave (v) lower is expected to end soon which should end wave ((i)) in higher degree. Afterwards, expect wave ((ii)) rally to correct cycle from 1.3.2023 high before the decline resumes. Near term, as far as pivot at 245.77 high stays intact, expect rally to fail in 3, 7, or 11 swing for further downside. Potential target lower is 100% – 161.8% Fibonacci extension from 1.3.2023 high which comes at 195.9 – 215.
🚘 Tesla Is Leading The Stock MarketJust as we believe that bitcoin will bottom before the S&P 500 Index, in the same way we believe that Tesla will bottom before the other major tech giants.
At present time going down fast and strong would seen like something really bad.
A stock dropping is surely bad for the investors but these markets move in cycle, they go up and down, up and down...
At a later point in 2023, things will turn around.
You will see the Tesla (TSLA) stock growing while other tech giants such as Apple, Microsoft and Google will still have a long way down to go.
This will be a positive for Tesla investors, as they will be seeing their stock growing while everything else is still searching for a market low.
Out of crisis, opportunity comes.
Once we hit bottom, the only place left to go is up.
This major downturn we will see in 2023, we will turn into a positive once it is over and done.
We learn from mistakes.
Out of tough situations innovation and evolution is the result.
Look at Bitcoin/cryptocurrency as an example, it is the result of the 2008/09 fiasco.
Namaste.
MSFT continuation wedge (bearish)This is a Continuation Wedge Pattern, Medium-term Bearish. The inbound duration took about 64 days.
the expected pattern duration *from the break of the wedge*, is roughly 22 days. with a target price anywhere around that 200 area. say 199 - 207
i dont want to keep boring you soo, i hoped you enjoyed this, and if you did could you kindly smash like!
Happy Christmas and hope have a wonderful new year. thanks for reading. thats all from me, Happy Trading my friends.
Buying MSFT break of recent high.Microsoft - 30d expiry - We look to Buy a break of 253.11 (stop at 243.98)
Prices have reacted from 213.43.
Posted a Double Top formation. 250.58 has been pivotal.
The previous swing high is located at 253.00.
A break of the recent high at 253.00 should result in a further move higher.
Short term momentum is bullish.
The bias is to break to the upside.
Our profit targets will be 274.98 and 279.98
Resistance: 250.00 / 260.00 / 267.00
Support: 235.00 / 220.00 / 210.00
Disclaimer – Saxo Bank Group.
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