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Technology Stocks : How high will Microsoft fly?
MSFT 491.12+1.7%Dec 8 3:59 PM EST
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To: Al Bearse who started this subject12/6/2000 11:59:17 AM
From: sandeep  Read Replies (1) of 74651
 
MSFT - technical analysis

The stock is weak and on a sell signal. However, the following wave structure suggests that the 48.375 low was the low for a considerable period of time. After the Dec 99 high of ~120, the first corrective wave took it down to 90 on ~28th Feb'00. The second wave took it up to 115 on ~March 20. the 3rd wave took it down to 60 by ~26 May. 4th wave took it up to 82 on 4th July and 5th wave took it down to 48.375 on ~oct 18th. Now that the so called 5-wave structure was completed, the corrective waves SHOULD take it to all time high if the company goes on the right track.
The first wave took it up to 72, the second wave dragged it down to 55. Now, it shouldn't fall below 55 and go above 72.

Now as long as it doesn't violate 55, I would stay long, otherwise, I would assume that the structure is not complete and go short.

BTW, by similar analysis, INTC may have entered the 5th wave when it broke 35 and could go down to 25-28.
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