Short Microsoft (MSFT): Here Is The Technical Level

As markets continue to rally, investors are becoming more confident. The vibe is now that COVID-19 will pass soon and it will be business as usual. In reality, that is unlikely. Until there is a vaccine, there will be no ‘business as usual’. Having said that, the rally can last a little longer. Microsoft (MSFT) is likely to head up to the major technical chart resistance at $178.50. That is my key short level to attack. Once there, I will pull the trigger. I will also begin shorting the S&P and Nasdaq 100.

Based on all technical cycle work, there is still another leg lower that could take us lower than the recent SPY low of $220.00.

(Click on image to enlarge)

Disclosure: None.

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.
Ayelet Wolf 1 month ago Member's comment

Maybe, not convinced...