April 16, 2011

MSFT Weekend update

  • MSFT Week is trading in a triangle pattern. Price is trading near the support line of the triangle.
  • Price closing below 24.8 will favor bears of MSFT.
  • Daily chart also looks to form a bearish Head and Shoulders pattern.Price below 24.60 means breaking the neck line of the head and shoulders pattern. Successful break from H&S pattern can target 21 levels in MSFT.
  • Price is trading below 50 and 200 Day moving averages. 200 DMA is near 26. For short term to look bullish price should trade above 26.
  • GOOGLE DESCENDING TRIANGLE BREAKDOWN

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