Microsoft shares (NASDAQ:MSFT) has been able to hold out to the bullish signal
on it, against the current turbulence the market is facing, from November 2019
to February 2020, price rose upwards sharply, reaching the supply level at
190.00.
Then the market fell to as low as the demand level of 130.00 before
rallying again. The rally has been in place since then: price has been able to
stay above the EMA 21. Likewise, the Williams’ % Range period 20 has recently
fallen from the overbought territory. The fall was not much and the indicator
has halted its fall as it prepares to go upwards again.
Once the Williams’ % Range reaches the overbought region, there would be
a confirmed bullish bias on the market. MSFT is supposed to go upwards from
here, reaching the supply levels at 180.00, 190.00 and eventually 200.00 this
year. This target might even be exceeded.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Trading realities: Trading realities
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