- 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
April 16, 2011
- Shooting Star of CNX - IT gives good correction. Price did test the bearish candle But eventually Shooting Star wins the battle.
- Next Support lies at 6550. If 6550 then price may slip down to 6150 - 6250 level.
- Break of weekly trend line will add more bearishness to CNX - IT.
- Infosys looks weak now stocks like TCS may give support to CNX - IT. One more point to note is the weekly Shooting star candle of TCS. I will update TCS chart later.
- Shooting star was shown in the last post of CNX - IT: CLICK HERE
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