fxstreet.com 03 Feb, 2021 08:15 am

Microsoft (MSFT Stock) bullish uptrend expecting small dip to 38.2% Fibonacci

Microsoft stock (MSFT) remains in a solid uptrend. Recently, a strong bullish breakout occurred after a sideways, consolidation zone. On the 4 hour ch

On the 4 hour chart, a small double top is indicating the difficulty for price action to break into higher ground.On the 4 hour chart, a small double top is indicating the difficulty for price action to break into higher ground.Price action could also build a shallow and sideways ABCDE triangle pattern (grey arrows).Eventually a bullish bounce (green arrows) or breakout (blue arrow) is expected to take price action to higher levels again as long as price stays above the 61.

WIth MSFT, the natural support zone (blue box) seems to be located at the previous resistance and the 21 ema support zone.The support zone is expected to create a bullish bounce (green arrow).

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