MSFT Technical Set Up Ahead of Earnings: A Sell-The-News Prescription?
|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
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