MSFT
: Upwards and Onwards. #MAG7 Longer-term time frame perspective. As you can see from the technicals, we have a cup-and-handle ☕, which indicates bullish momentum may continue into next year!
Support: $350
Resistance: $380
With a break above the resistance zone close, I expect the next green zone targets to be hit over time. This case would not be valid if we went below support.
The MAG7 performance this year has been outstanding due to the AI boom. That is set to continue into next year, but remember, Microsoft isn't the only one with a ChatGPT investment... There are many competitions, such as with GOOG and Gemini.
Something to keep in mind is the legal aspect of AI and how that will affect companies going forward. It's a wonderful development, but the legal aspect is equally important
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The majority of those who want to embark on trading as a side investment or even as a career lack the mindset and want to get rich quick. By investing or trading in that manner, you will lose your capital.
Have an amazing year ahead,
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Trade closed: target reached:
1st target reached - Boom and just like that we've touched the areas of $400+
Trade active:
Heading towards the 2nd target zone!
Comment:
Dovish FOMC makes sense for MAG7s to have a pull back technically as well.
Comment:
MSFT Strong US Data! MAGS are steady and MSFT Breaks further to upside!
Trade closed: target reached:
2nd Target hit comfortably
Comment:
Next area of interest $440-500 areas!