MSFT - New ATH's or FAIL by 12/16MSFT showing that the breakdown last week which occurred did not confirm by breaking the lower channel.
Price needs to break pink and white lines to continue down and fill the red gap boxes.
Resistance line and trend line cross this Friday. This means we may see sideways movement until Friday/next Monday.
RSI trendline was broken last week.
RSI current trend resumed higher and is already almost overbought.
RSI over 75 is rare. Current RSI is 67.
Next Daily trend is bearish.
Next Weekly trend is bearish but spread farther apart with recent rally.
Best to exit after next drop and wait for better long-term Put/Short position in 2020.
Short term bullish after the next drop in RSI below 60.
Exits
-If price goes to new ATH's or over $152.43
-If price reaches white channel (as rebound upward may occur with further Fed QE liquidity injections)
-If price reaches yellow support line
-If we do not head lower by this Friday/next Monday
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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, and VIXY.
Short SPY, AAPL, ROKU
