Hello fellow traders. In this technical article we’re going to take a quick look at the of Microsoft (MSFT) stock. As our members know, the stock is trading within the cycle from the November 2022 low. We have been calling for the rally in the stock after 3 waves pull back. Our team recommended members to avoid selling MSFT stock, while keep favoring the long side. In the further text we are going to explain the Elliott Wave Forecast.
Microsoft (MSFT) Elliott Wave 1 Hour Chart 4.23.2023
Current view suggests the stock is doing wave (4) pull back, correcting the cycle from the March low. At the moment structure of the pull back looks incomplete, consequently we were calling for more downside toward 280.74-275.62 area. We don’t recommend selling it and prefer the long side. The stock is expected to find buyers in 3,7,11 swings. We expect to see at least 3 waves bounce from the blue box area or further rally toward new highs ideally.
Microsoft (MSFT) Elliott Wave 1 Hour Chart 4.23.2023
Eventually the stock made decline toward blue box zone- buyers area. Pull back reached our target zone at 280.74-275.62 area . MSFT found buyers and we got very good reaction from there. Rally made break toward new highs confirming next leg up is in progress. The stock is expected to keep finding buyers as far as pivot at 275.17 low holds.
Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts with target levels in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the
New to Elliott Wave ? Check out our and download our
Elliott Wave Forecast
We cover 78 instruments in total, but it’s important to keep in mind that not every chart is trading recommendation. We present Official Trading Recommendations in Live Trading Room. If not a member yet, and get access to new trading opportunities. Through time we have developed a very respectable trading strategy which defines Entry, Stop Loss and Take Profit levels with high accuracy.
Please keep in mind that we don’t make the market and our forecasts don’t have 100% accuracy. However, we do have a system which allows us to get out Risk Free + cash partial profit from the trade, even if primary analysis gets wrong. Join us now and start learning from market experts. If you are looking for professional real-time analysis in Forex, Indices, commodities,Crypto currencies , stocks and ETFs you have come to the right place.
Welcome to Elliott Wave Forecast !
Source:-forecast.com/stock-market/microsoft-msft-blue-box-area/
#trading #elliottwave #MSFT
