MICROSOFT Targeting $285 short-term

Microsoft (MSFT) is about to hit the 1D MA50 (blue trend-line) for the 3rd time since June 27. A new break should be a confirmation of that being the new Lower High rebound. The previous targeted the 0.618 Fibonacci retracement level, this is now over the Channel Down a little above 285.00.

We believe this might be the start to an even bigger and more sustainable rise as certain long-term indicators have been aligned on Support levels:

* First, the RSI on the 1W time-frame is on a Bullish Divergence, being on Higher Lows while the price action was on Lower Lows.
* Second, the 1W MACD inevitably will form a Bullish Cross, the first since October 27 2021.
* Third, the 1M MA30 (yellow trend-line) supported the previous Low, right on the Higher Lows trend-line that started back in September 18 2020.

As mentioned the 285.00 is just below the 0.618 Fib, where the 1D MA200 (orange trend-line) might be by the time it tests it, for the ultimate Resistance test.


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