Wednesday, September 26, 2018 2:33:22 PM
Shares of Microsoft Corp (MSFT) continue to climb higher, breaking $115.00 today, a new all-time high. Investors continue to enjoy the move on this old school tech giant. However, after charting the Microsoft chart, it appears the max upside is at $117.25. This means that investors and swing traders can look to accumulate a short position there for a retrace pullback once that max move level is hit. This level comes from a simple trend line, connecting the recent highs from 2018. Simply connect the high from January 2018 to the high of July 2018. Extend that line out and it stretches to $117.25. Because each of those pivots saw a sharp retrace, logic dictates a pull back once it that trend line is hit again. A pull back of at least 10% is expected.
Gareth Soloway
InTheMoneyStocks
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