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A place for friends to gather and view stock market charts, discuss technical analysis and market outlook. What is your Principal Asset? How can it be developed? Each and all should do their own due dilligence and homework before investing. And by no means should you use anything I say or show here as a sole basis to buy or sell securities as everything is for educational experience only.

Tuesday, November 11, 2008

MR. Softy....

Long term monthly chart of MSFT... Check out all the white space below $17.13...
5 year monthly.... MASSIVE H&S pattern

5 Yr Weekly

What can be reasonably predicted from the above?
  1. At $20.71 there is some extreme support which is weakening with each failed attempt to break below. A break would fulfill the H&S pattern and a projected target below would be $36.95-$20.71 = $16.24.
  2. Another bounce off of $20.71 which will ultimately fail at the 23.6% fib line or $24.54 and then finally break the $20.71 level.

    Either way Mr. Softy will eventually provide a nice short opportunity

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