MICROSOFT $450 Target hit. Potential consolidation ahead.

1 Tem

Microsoft (MSFT) easily hit our $450.00 medium-term Target that we called on our last signal (May 01, see chart below):

That call came on the most optimal buy entry, with the price right at the bottom of the 18-month Channel Up. The symmetry between the pattern's Legs is very high and based on the previous Bullish Leg (dotted Channel Up), we should now get a medium-term consolidation to test the 1D MA50 (blue trend-line) and then resume the uptrend.

The Higher High was priced just above the 1.382 Fibonacci extension level. As a result, our next Target is $480.

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