$MSFT TOP 20
Added 2024-02-25 19:25:03 +0000 UTC$MSFT is showing some early signs of a Head and Shoulders pattern at our standard Wave 5 completed level, in between the 2.27 - 2.618 Fibs.
This is a bearish indication which usually indicates the top too....so we are seeing the price action slowing down at the standard Wave 5 Fib level, a bearish formation forming and a stock that has been leading the market all year.
$MSFT also did not move with the AI and Semi's this week when they went bullish....bulls may not be chasing here.
That being said, the extended Wave 5 can still come.....especially if $AAPL runs next, so the 3.618 Fib at $461, is still a possibility.
As always we plan for the most conservative scenarios, so I have added in the ABC correction now for the next 6-9months.
Price is still above the 50 and 200 Day MA, so if you have a position, holding for now still makes the most sense.
