$MSFT TOP 20
Added 2023-04-02 19:39:38 +0000 UTCVery similar chart here to $AAPL, both RSI and MACD are in overbought territories. $MSFT is still in its bear channel, this could move a little higher and test the previous high at $294, there is an inverse head and shoulders pattern here but the chart is already very crowded so I want to leave things more simplistic and clear. If $MSFT can break about $294 and hold, it is into the Bull Case, and at $300, it is likely needing to pull back for Wave 4 then.
if $AAPL and $MSFT run out of the steam, they will likely come back down together, $AAPL appears to be in a more difficult position as it approaches a resistance line that has been rejected 4 times already, $MSFT just has one attempt so far and rejected.
So What Now?
Both RSI and MACD are in overbought territories and every time they have been here before, they have come back down for either a new low or a pull back. This is what we are looking for here now, will it pull back for Wave 4 or come back and lose the bear channel and come down lower. 200 Day MA is at $253 for support too.
Bulls will be happy to see that the 50 Day MA has crossed the 200 Day MA now and this is positive if $MSFT can pull back shortly and hold Wave 4.
