MATRIX Penny Stocks

[livermore4ever]

MSFT Technical Update

MSFT has broken the mid-term ascending channel, and it retested this reference in a few sessions, giving the 27.75 level a resistance meaning for the short term.

This pattern projection is the 24.85 price level for the mid-term time frame.
The upside reference is a very aggressive short term descending trend line, this reference is making downside reactions on MSFT in the last sessions and since the end of July, and can be set has the main trigger for an upside move.

We can also set a new short term pattern, a Falling Wedge, which is a bullish pattern if crossed on the upside. So it must be checked on the present because we can have a short term buying signal, based on this. This pattern is getting really tight, and the upside value is actually near the high of today’s session (27.25).

Another interesting technical situation that I should mention, is the ema reactions on the short term. The ema200 as acted like a support, and the ema50 as a resistance, making this recent trading range a very technical one…

I’m a bit bearish for the short run, because the channel was the main reference for the mid term, and I expect the projection to be accomplished… Off course we can have a rebound, but always with the 27.75 level as a target and resistance.
I can only change my mood to bullish, if MSFT goes above 27.75 on the short term.

Technical Chart used for this Analysis:
http://globalspeculators.com/trading_futures/index.php?topic=40.0

Best regards !

Jesse Livermore
http://globalspeculators.com/