MSFT Elliott Wave Analysis Trading Lounge Daily Chart, 20 February 24.
Microsoft Inc., (MSFT) Daily Chart.
MSFT Elliott Wave technical analysis
Function: Counter Trend.
Mode: Corrective.
Structure: Zigzag.
Position: Minor wave 5 of (1).
Direction: Downside in wave A of (2).
Details: After an astonishing rally in what appears to be wave (1), we seem to have come to an end or else close to an end as we can count a clear five wave move as well as we are finding resistance on Medium Level 400$.
MSFT Elliott Wave Analysis Trading Lounge 4Hr Chart, 20 February 24.
Meta Platforms Inc., (MSFT) 4Hr Chart.
MSFT Elliott Wave technical analysis
Function: Counter Trend.
Mode: Corrective.
Structure: Zigzag.
Position: Wave {i} of A.
Direction: Continuation lower into wave {iii}.
Details: Looking for continuation lower into wave {iii} as we seem to have had a corrective pullback to the upside in what we labelled wave {ii} and we seem to be headed lower. Looking for downside target in wave A at the area of the previous wave {iv} at 370$.
Welcome to our MSFT Elliott Wave Analysis Trading Lounge, your ultimate destination for comprehensive insights into Microsoft Inc. (MSFT) using Elliott Wave Technical Analysis. As of the Daily Chart on 20th February 2024, we delve into significant trends guiding the market.
* MSFT Elliott Wave Technical Analysis – Daily Chart*
In terms of wave dynamics, we observe a countertrend mode with a corrective structure, specifically a zigzag pattern. The current position is in Minor wave 5 of (1), indicating a downside movement in wave A of (2). Despite the astonishing rally in what appears to be wave (1), we anticipate a potential end or close to an end as evidenced by a clear five-wave move and resistance encountered at the Medium Level of $400.
*MSFT Elliott Wave Technical Analysis – 4Hr Chart*
Here, the wave function maintains its counter-trend mode with a corrective structure, specifically a zigzag pattern. The present position is in Wave {i} of A, signaling a continuation lower into wave {iii}. Following a corrective pullback to the upside labeled as wave {ii}, we anticipate a downward trajectory. Our downside target in wave A aligns with the area of the previous wave {iv}, estimated at $370.
Technical Analyst: Alessio Barretta.
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended content
Editors’ Picks
AUD/USD: The hunt for the 0.7000 hurdle
AUD/USD quickly left behind Wednesday’s strong pullback and rose markedly past the 0.6900 barrier on Thursday, boosted by news of fresh stimulus in China as well as renewed weakness in the US Dollar.
EUR/USD refocuses its attention to 1.1200 and above
Rising appetite for the risk-associated assets, the offered stance in the Greenback and Chinese stimulus all contributed to the resurgence of the upside momentum in EUR/USD, which managed to retest the 1.1190 zone on Thursday.
Gold holding at higher ground at around $2,670
Gold breaks to new high of $2,673 on Thursday. Falling interest rates globally, intensifying geopolitical conflicts and heightened Fed easing bets are the main factors.
Bitcoin displays bullish signals amid supportive macroeconomic developments and growing institutional demand
Bitcoin (BTC) trades slightly up, around $64,000 on Thursday, following a rejection from the upper consolidation level of $64,700 the previous day. BTC’s price has been consolidating between $62,000 and $64,700 for the past week.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.