MSFT blew past the 404.83 midpoint ‘hidden’ resistance of the pattern show before settling back, penetrating it with sufficient force to imply that the rally is likely to achieve the D target at 421.63. That would still leave the stock somewhat shy of a 430.58 target that was first aired in 2023 and which has held precisely for more than a month. We should be prepared for a marginal new high, since that would set the kind of hook that would trap bulls and bears alike as the latter scrambled for cover. We’ll be ready to exploit any such ‘fooler’ if it happens.
MSFT – Microsoft (Last:406.32)