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Markets by Mike Paulenoff 4/24 - MSFT Technical Set Up Ahead of Earnings: A Sell-The-News Prescription?

Wednesday April 24th, 2019
by Mike Paulenoff

MSFT-- reports earnings after the close. Purely from a pattern perspective, the Dec.- Apr. bullish price channel shows its upper boundary line in the vicinity of 128.20, which should represent powerful resistance on a positive algo knee-jerk reaction to the MSFT news. If such a scenario unfolds atop a 37% four month advance, let's not be surprised by a sell-the-news response to an earnings beat the ping-pong's the MSFT price action from the upper channel boundary (128.20) to the lower channel boundary (120.00) in the hours/days directly ahead... Last in MSFT is 125.04/05


$MSFT

Mike Paulenoff is author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial!

*  I really like Mike's charts and analysis. This is shared with my readers here via MPtrader.com  *


Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal.

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