MSFT 54.19 – long-term bullish – Bullish falling wedge breakout points higher
MSFT posted a new 15.5-year high at 54.98 (November 6, 2015) following an 11-month bullish falling wedge breakout on October 23, 2015 (as shown on the monthly chart). Further consolidation remains expected given the overbought condition. While the 50.05 area (November 2015 month high) holds dips, scope remains for further upside through 54.98 to challenge the 59.97 level (December 1999 all-time high). Clearance above there would accelerate the broad uptrend towards 63.51 (equality target, 26.26-50.05 from 39.72)
Outlook:
Daily: neutral
Weekly: bullish
Monthly: bullish
MSFT posted a new 15.5-year high at 54.98 (November 6, 2015) following an 11-month bullish falling wedge breakout on October 23, 2015 (as shown on the monthly chart). Further consolidation remains expected given the overbought condition. While the 50.05 area (November 2015 month high) holds dips, scope remains for further upside through 54.98 to challenge the 59.97 level (December 1999 all-time high). Clearance above there would accelerate the broad uptrend towards 63.51 (equality target, 26.26-50.05 from 39.72)
Outlook:
Daily: neutral
Weekly: bullish
Monthly: bullish