Microsoft Chart Update: Key Levels to Watch Now!⚠️

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Examining Microsoft's MSFT 2-hour chart , we see the end of Wave ((v)) at $415, coinciding with a challenging earning call. Currently, we expect short-term support at the Wave ((iv)) level, around $364, and aim to stay above the 61.8% mark of $349.

📉 As we're potentially starting a long-term Wave II, we anticipate finding initial support without a significant breakdown. The 2-day chart suggests we might be nearing the cycle's end, with Wave 5's potential range between $388 and $430. If a pivot at 38 to 50% happens it could lead to new highs, indicating the current cycle isn't over yet and we have to see wave 5. If not, a deeper correction to at least $214, the previous Wave (4) level from November 2022, is plausible.

😷 The pandemic level at $136 also remains within the realm of possibility for Wave II. This reflects the market's need for corrections after strong upward momentum in recent years. Please keep in mind that there is no chart on this world that is growing without corrections and if you zoom out on all big bad events, they are about non existing and so will it be if Microsoft or other will have a larger pullback!

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If you want to see the daily chart too, here it is.