Stocks Technical Analysis #MSFT #BABA #DJ30
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$Microsoft(MSFT)$
Price played out exactly as analyzed in my previous analysis. Price tapped into the bearish POI at 251.94 post-market hours, reaching a high of 253 before dumping straight down and closing at 234.00 after earnings. With weak guidance as fundamental and price breaking market structure to the downside, there is a higher probability that price continues lower.
Price falls short of filling the fair value gap at 79.79 before going lower. Price has taken the liquidity at 59.25 after a bearish market outlook in China, from here, the long-term trend should be downwards until we see signs of recovery. I'm expecting price to make a bullish retracement into the bearish POI at 70.52 before continuing lower.
Price fails to respect the bearish POI at 30485.6 and broke market structure to the upside. Next potential target for this bullish move is the bearish POI at 32713.6, where we have the higher timeframe bearish POI and price is likely to react from there.
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microsoft present itself a slight discount for retailers
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