MICROSOFT stumble at the top of the rising wedge. Is this rejection the end of the trend?

MICROSOFT 12h chart. Update to previous article.


Microsoft stumble at the top of the rising wedge getting a strong rejection from the diagonal of resistance.

We might witness a trend reversal. 380 is a key pivot level that might be tested as support in the next days or next week.


In my opinion, I think, Microsoft might copy the price movement of Bitcoin at 69k. Creating new ATH on HTF on low volume with no visible progress.


I might be wrong, but I feel that RR for any long position is very bad on this level. I would opt more for a short swing position.


Line in the send is 380 level. Once this level is lost, bears will get in control and we can expect a strong reversal into the lower support levels.

Daily candle looks like a potential candidate for a shooting star. If that will be the case, a confirmation from tomorrow daily close can trigger a short trade.


Note: Check your broker chart and see the price level difference. This is just my opinion and it is not meant to be a signal or financial advice. Trade safe and manage your risk.


I hope you enjoyed this article. Don't forget to follow me on Twitter, YouTube and Instagram.


JOIN our Discord VIP trading group and get acces to a lot of LIVE TRADING CHARTS: https://www.patreon.com/barbariantrader

FTMO.com - For serious traders

IFrame

GET STARTED TODAY

Open a CRYPTO account TODAY
Brace yourself for a rewarding adventure into the dynamic world of trading!

Embark on your journey to explore the world of STOCKS and FOREX trading, where financial opportunities await.