MSFT stock price is trading around $330.95 outside and below the bullish channel it was in since December of 2022. Short-term trend has changed to bearish as price in the lower time frames is making lower lows and lower highs. MSFT stock price is now exiting the bullish channel it was in and is very close to making a new weekly lower low. Two weeks ago the weekly candlestick was a bearish hammer reversal. Last week was negative confirming the importance of the bearish hammer candlestick. This week a close outside of the bullish channel will confirm our bearish expectations for a move lower.
The material has been provided by InstaForex Company – www.instaforex.com
Blue lines – bullish channel
MSFT stock price is trading around $330.95 outside and below the bullish channel it was in since December of 2022. Short-term trend has changed to bearish as price in the lower time frames is making lower lows and lower highs. MSFT stock price is now exiting the bullish channel it was in and is very close to making a new weekly lower low. Two weeks ago the weekly candlestick was a bearish hammer reversal. Last week was negative confirming the importance of the bearish hammer candlestick. This week a close outside of the bullish channel will confirm our bearish expectations for a move lower.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: