Microsoft Corp ($MSFT) reacts higher from the blue box area

Good Day Traders and Investors. In today’s article, we will look at the past performance of the 1 Hour Elliott Wave chart of Microsoft Corp. ($MSFT) The rally from 5.24.2023 low unfolded as a 5 wave impulse with an incomplete bullish sequence from 4.25.2023 low. So, we advised members to buy the pullback in 3 swings at the blue box area ($328.38 – 323.73). We will explain the structure & forecast below:

$MSFT 1h Elliott Wave chart 6.01.2023

Here is the 1H Elliott Wave count from 6.01.2023. The rally from 5.24.2023 unfolded in a 5 wave impulse which signaled a bullish trend. We expected the pullback to find buyers in 3 swings at $328.38 – 323.73 where we entered as buyers.

$MSFT 1h Elliott Wave chart latest view

Here is the latest 1H update showing the move taking place as expected. The stock has reacted higher ending the cycle from 5.30.2023 peak and eventually breaking above it which confirms more upside is to be seen. We remain long with a risk free position targeting new all time highs and won’t be surprised to see $MSFT trading towards $380 – 435 area in the near term.