$MSFT TOP 20
Added 2023-08-27 20:38:44 +0000 UTCAnother company that has an outstanding year to date and really felt the pull back since July, one of the strongest earnings reports of the year too and again we can see that the 200 Day MA is moving up to the 1.618 Fib as a potential support line....what I can see from a lot of charts is the same story. Their share price is inbetween the 50 and 200 Day MA and after rejecting from the 50 Day MA during the week.....this is leaving the 200 Day MA as a potential support line.....a rule of thumb, buying a stock at the 200 Day MA is where there is value, buying at the 250 Day MA is where there is extreme value to be found.
$MSFT has done nothing wrong, it is only guilty of running too fast, too early, its Wave 3 ran to the 3 Fib so pulling back to the 1.618 Fib is standard behaviour and it is not coincidental that the 200 Day MA will be there too.
