When MSFT overshot a longstanding Hidden Pivot target at 503.69, it signaled more upside to at least 516.95. That is why I advised buying the stock ‘mechanically’ if it pulled back to 495.76 (the green line). Alas, it corrected no lower than 497.80 last week, stranding our bid. The trade remains viable, however, and you can keep bidding there, stop 448.60, until such time as the stock pushes above 509.89. (Alternatively, you should use a ‘camo’ trigger to initiate the trade if you know how, since it could cut the initial risk by as much as 95%.) The 516.95 target is still valid, as implied above and you can short there with a stop-loss as tight as 0.70, provided you’ve profited on the way up.
MSFT – Microsoft (Last:503.32)
