As the close of April 22, 2024,
MSFT
had the first reaction at the support area, the white line as shown on the chart, which started to form since January, 2024.
The close provides an early entry opportunity to see if the support can hold. We can put the stop loss 2% below the low of the April 22 session.
Another risk we need to pay attention to is that the quarter earnings is very near (April 25)
MSFT
had the first reaction at the support area, the white line as shown on the chart, which started to form since January, 2024. The close provides an early entry opportunity to see if the support can hold. We can put the stop loss 2% below the low of the April 22 session.
Another risk we need to pay attention to is that the quarter earnings is very near (April 25)
Trade closed: target reached:
I closed the trade as it approaches the MA-50. Also, I just wanted to reduce before earnings.
Comment:
The support finally broke on April 30. The next area of support is the area between the 150-day MA and 200-day MA, which I wrote in more details in the trading idea on April 30. You can see it in the related ideas section below.
