Microsoft Corp.Short
$MSFT Bollinger Band Play
I'm a fan of shorting what's overbought and going long what's oversold. MSFT is surging, along with the rest of the market, and is showing what could be my favorite kind of candle.
When you see an entire candle outside the Bollinger Bands, especially with a price reversal that day (i.e. close < open), that translates to great counter-trend opportunities.
However - I do like to see RSI confirm with Bollinger Bands. I would like to see RSI > 80 in this situation. I think it's a short opportunity but nothing massive. If it doesn't happen, so be it.
Earnings July 18. July-12 132/134 Bear Put attractively priced.
MSFT is surging, along with the rest of the market, and is showing what could be my favorite kind of candle.When you see an entire candle outside the Bollinger Bands, especially with a price reversal that day (i.e. close < open), that translates to great counter-trend opportunities.
However - I do like to see RSI confirm with Bollinger Bands. I would like to see RSI > 80 in this situation. I think it's a short opportunity but nothing massive. If it doesn't happen, so be it.
Earnings July 18. July-12 132/134 Bear Put attractively priced.
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