Microsoft (MSFT) Developing Butterfly Pattern - Hourly
This may be a long or short opportunity depending how you play it.
Miscrosoft (MSFT) one of th FAAMG stocks has recently recovered nearly 80% of its February high.
On a hourly basis a Butterfly Pattern is developing where point C may have been put in,
and we are looking for a Point D which is an 1.27-1,41 extention area. This also happens to point to a gap
going back early April.
One might sell short here (or sell a long position) and cover ( or reestablish the long poition) where indicated,
or wait for a break of point B. Cover should be around the 186+ area.
Be aware that earnings come out April 29th before the market opens, so expect some volatility ahead.
Just an idea of mine.
S.
Miscrosoft (MSFT) one of th FAAMG stocks has recently recovered nearly 80% of its February high.
On a hourly basis a Butterfly Pattern is developing where point C may have been put in,
and we are looking for a Point D which is an 1.27-1,41 extention area. This also happens to point to a gap
going back early April.
One might sell short here (or sell a long position) and cover ( or reestablish the long poition) where indicated,
or wait for a break of point B. Cover should be around the 186+ area.
Be aware that earnings come out April 29th before the market opens, so expect some volatility ahead.
Just an idea of mine.
S.