Tuesday, June 29, 2021 1:18 PM EST
Shares of Microsoft Corp (MSFT) are hitting new all-time highs again. This is almost a normality on a daily basis. With a market cap of over $2 trillion-Dollars, Microsoft is the second most valuable company in the world.
Having said that, the stock chart is telling investors to be wary once price hits $270.50. That is less than $1 Dollar away from the current price. The reason for caution is a major trend line of resistance connecting the recent high pivots of September 2nd, 2020, and April 22nd, 2021. From these pivot highs, Microsoft saw a sharp correction of between 10-15%. When the current price tags this trend line, swing traders can look to short the stock for another 10%+ correction. This is a high reward swing trade setup.
Disclaimer: All comments made by InTheMoneyStocks, LLC and its subsidiaries, instructors, and representatives are for educational and informational purposes only and should not be construed as ...
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Disclaimer: All comments made by InTheMoneyStocks, LLC and its subsidiaries, instructors, and representatives are for educational and informational purposes only and should not be construed as investment advice regarding the purchase or sale of securities, or any other financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities mentioned herein. InTheMoneyStocks, LLC and its representatives assume no responsibility for your trading and investment results. All information on the website was obtained from sources believed to be reliable., but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. InTheMoneyStocks, LLC, its employees, representatives and affiliated individuals may have a position or effect transactions in the securities herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves a very high degree of risk. Futures and Options trading are not suitable for all investors. Past results are not indicative of future results. InTheMoneyStocks, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment results.
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