MSFT - 1D chart - FIB Retrace
MSFT has bounced off the 61.8% Fib retracement and rocketed up from that position with a high volume. When we draw Fib Extension pattern, we are looking at a high of $208, which it is around right now, and may bounce back. If this continues past this point, we are able to continue to $229, which would be a good sell point, as market is starting to correct. If we get very high volume and a strong push up, there is a small potential to see $290.
MSFT has bounced off the 61.8% Fib retracement and rocketed up from that position with a high volume. When we draw Fib Extension pattern, we are looking at a high of $208, which it is around right now, and may bounce back. If this continues past this point, we are able to continue to $229, which would be a good sell point, as market is starting to correct. If we get very high volume and a strong push up, there is a small potential to see $290.
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