Header Ads

Microsoft Corp.: wave analysis 12 June 2017, 09:19


Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 70.24
Take Profit 72.00
Stop Loss 69.65
Key Levels 62.60, 63.00, 67.00, 72.00
Alternative scenario
Recommendation SELL STOP
Entry Point 66.90
Take Profit 63.00, 62.60
Stop Loss 68.20
Key Levels 62.60, 63.00, 67.00, 72.00

The price is correcting.
An upward tendency in the fifth wave of the highest level 5 is likely to be forming within the H4 timeframe. Locally the development of the third wave (iii) of iii of 5 seems to have ended as an impulse, and the formation of downward correction as wave (iv) has started. If the assumption is correct, after it is finished the growth of the price will continue to the level of 75.00. A critical level for this scenario will be 67.00.


Trading tips
One may expect the end of correction and buy the asset above the level of 67.00 with target at 72.00.
Alternative scenario
Breaking through the level of 67.00 and consolidation of the price below it will allow the asset to continue falling to the levels of 63.00-62.60. 
Από το Blogger.