Steve,
Hi! I'm new to this tread. I'm interested in MSFT too. My take on the candles here are that even though the weekly charts shows a nice big white candle there's lots of resistant overhead. The daily shows that long legged doji (or is it an almost doji?) you mentioned, which seems bearish. I don't like the looks of those three failed attempts to reach new highs that past 3 weeks (2 last week and once the previous week)...that actually start to look like a serious of lower highs. On the intraday, the 30 minute chart shows three white soldiers (sort of), and if they break through that resistance level at 138 from the 28th, it might be worth a trade, short term. Basically, with microsoft there's alot of overhead resistance which will make it very tough for this stock to do much.
What are those tests up that fail called? The analogy, Nison says, is like military scouts--the bulls send out some scouts to try taking some new ground, try new highs and see if they'll hold, but they don't because the bears are there. They try again later, with the same result. I love microsoft, but Gates and the CFO (with others) have been trying to talk this stock down for some time... it shows on the chart, don't you think?
Sorry for the long post
Regards,
TomLF |
