MSFT’s dip on the opening to the green line triggered a ‘mechanical’ buy with the potential to reach 387.92. Bulls were halfway there on Thursday when the stock closed above the red line, a midpoint Hidden Pivot resistance at 372.25. If it can do it again on Monday, that would make further progress to the d target all but certain. I have shown only a portion of the bullish pattern for proprietary reasons, but it is an rABC that meets all my rules. I still expect the stock to fall eventually to 332.67, which implies that this rally should be shorted aggressively at 387.92, albeit with very tight risk control.
MSFT – Microsoft (Last:373.46)