Short Term Elliott Wave View in Microsoft (MSFT) suggests rally to 294.22 ended wave ((W)). Wave ((X)) pullback is in progress to correct cycle from 14 June 2022 low before it resumes higher again. Internal subdivision of wave ((X)) is unfolding as a . Down from wave ((W)), wave 1 ended at 290.41 and rally in wave 2 ended at 294.07. The stock then continues lower in an extended wave 3 towards 276.20.

Internal structure of wave 3 shows that the decline from 294.07 to 289.04 ended wave ((i)) and rally in wave ((ii)) finished at 293.30. Further downside continues ending wave ((iii)) at 277.21 and shallow bounce ended wave ((iv)) at 278.78. Final leg lower wave ((v)) ended at 276.20 completing wave 3. Wave 4 took the form of a triangle structure completing at 276.69 and last drop ended at 274.38 which ended wave 5 and wave (A).Wave (B) pullback is in progress to correct cycle from August 15, 2022 high in 3, 7, or 11 swing before the next leg lower. As far as pivot at 294.22 high stays intact, expect rally to fail for further downside and break the low of wave (A).

MSFT 60 Minutes Elliott Wave Chart

MSFT Elliott Wave Video

Source:-forecast.com/news/msft-continue-lower-pullback/

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