Even the big companies trap themselves up high inside those double tops. Microsoft currently getting shorted from all angles.
Nividia was also the subject of Shorting but it was able to climb out of it.
Note
Microsoft monthly chart:Note
I will remain on a Short trade for Microsoft going into the new week.There has been very little selling of Microsoft, I note since the July 24 correction.
Note
I don't think I properly mentioned what the initial trigger was for the selling of Microsoft on Friday. It is due to a bearish head n shoulders' pattern on weekly, daily, 4hr charts. It's a big one and I think that the pattern has more to play-out on Monday. Whether its a 2% or 20% further drop, I don't think it changes the fundamentals of this stock and company or its bright future.
We all know that when these big stocks drop, new buying bulls buy up at discount values because they also know that the share price won't be staying down for long.
Trade active
Reality check. Soon possible and probable share price for Microsoft.Note
Possible profit zones from Short Microsoft Trade
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.