Microsoft is still trading within its long-term corrective phase. However, Microsoft has already completed two of three major corrective waves (orange wave A and B) and is now trading within the final leg of the overall correction — orange wave C. We expect Microsoft to break below its local support at $344.79 and reach our Fibonacci retracement zone.
This zone defines long-term opportunities to buy or accumulate this stock.
Long Entry Levels:
- 50% at $277.57
- 61.8% at $212.08
- 78.6% at $118.84
Stop Loss: 1% below the zone at $117.63
We expect this long-term correction for Microsoft to conclude within this zone, and from there regain strong bullish momentum to rebuild a major and sustainable uptrend.
Should anything change with this stock, or once Microsoft reaches and activates our defined Fibonacci retracement zone, we will update you immediately.
Kind regards,
Monalytics
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