Microsoft Hitting Major Channel Resistance. (MSFT)
We all know if you go back in time till now on Microsoft it has an insane parabolic curve.
I currently have a channel drawn out between the two lines.
Arrows and red line is Resistance.
Green line is support.
We are seeing the overall trend from the last impulse hit the top level of Resistance in the channel, where we have seen previous good size selloffs occur at.
The ema dots are all red and the custom rsi has already dropped off.
I'm in favor of a short up here at this top level of range.
I think it would be healthy to see a pullback here.
I currently have a channel drawn out between the two lines.
Arrows and red line is Resistance.
Green line is support.
We are seeing the overall trend from the last impulse hit the top level of Resistance in the channel, where we have seen previous good size selloffs occur at.
The ema dots are all red and the custom rsi has already dropped off.
I'm in favor of a short up here at this top level of range.
I think it would be healthy to see a pullback here.
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