Friday, September 13, 2019 12:21:30 PM
Shares of Microsoft (MSFT) are putting in a nasty bear flag daily stock chart formation. Technical traders know that this signals a sharp downside move coming in the stock. Based on calculations, the downside technical target is $120.00. The flag pattern itself will trigger when Microsoft trades below $135.00 on a daily closing basis. Note the stock chart below. Investors and swing traders can short the tech giant on a close below $135.00. Based on the chart pattern, it should trigger within days. If the pattern fails, it will be noted by a close above the all-time high of $141.68. This is a great risk/reward setup. Upside risk is under $7, downside target is $15.
Gareth Soloway
InTheMoneyStocks
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