I have placed no notes on the chart so you can look at it yourself without experiencing my bias. I am skeptical that the stock is about to launch to new record highs, but we shouldn’t presume too heavily against this. It ‘feels’ like a ratcheting move higher will not suffice to blast through granite layers of supply; rather, a bold blast that leaves immediate resistance in the dust is what is called for. Any progress above 450 will turn December’s 456 peak magnetic, beckoning a test that MSFT seems likely to pass, literally. At that point, a voodoo resistance at 462.26 will be in play, and it should be used to get short with a very tight reverse-pattern trigger. This recommendation will hold unless the stock spears the voodoo number on first contact.
MSFT – Microsoft (Last:444.06)
