Microsoft Inc.(MSFT) Elliott Wave technical analysis [Video]

MSFT Elliott Wave Analysis Trading Lounge Daily Chart, 20 February 24.

Microsoft Inc., (MSFT) Daily Chart.

MSFT Elliott Wave technical analysis

Function: Counter Trend.

Mode: Corrective.

Structure: Zigzag.

Position: Minor wave 5 of (1).  

Direction: Downside in wave A of (2).

Details: After an astonishing rally in what appears to be wave (1), we seem to have come to an end or else close to an end as we can count a clear five wave move as well as we are finding resistance on Medium Level 400$.

MSFT Elliott Wave Analysis Trading Lounge 4Hr Chart, 20 February 24.

Meta Platforms Inc., (MSFT) 4Hr Chart.

MSFT Elliott Wave technical analysis

Function: Counter Trend.  

Mode: Corrective.

Structure: Zigzag.

Position: Wave {i} of A.  

Direction: Continuation lower into wave {iii}.  

Details: Looking for continuation lower into wave {iii} as we seem to have had a corrective pullback to the upside in what we labelled wave {ii} and we seem to be headed lower. Looking for downside target in wave A at the area of the previous wave {iv} at 370$.

Welcome to our MSFT Elliott Wave Analysis Trading Lounge, your ultimate destination for comprehensive insights into Microsoft Inc. (MSFT) using Elliott Wave Technical Analysis. As of the Daily Chart on 20th February 2024, we delve into significant trends guiding the market.

* MSFT Elliott Wave Technical Analysis – Daily Chart*

In terms of wave dynamics, we observe a countertrend mode with a corrective structure, specifically a zigzag pattern. The current position is in Minor wave 5 of (1), indicating a downside movement in wave A of (2). Despite the astonishing rally in what appears to be wave (1), we anticipate a potential end or close to an end as evidenced by a clear five-wave move and resistance encountered at the Medium Level of $400.

*MSFT Elliott Wave Technical Analysis – 4Hr Chart*

Here, the wave function maintains its counter-trend mode with a corrective structure, specifically a zigzag pattern. The present position is in Wave {i} of A, signaling a continuation lower into wave {iii}. Following a corrective pullback to the upside labeled as wave {ii}, we anticipate a downward trajectory. Our downside target in wave A aligns with the area of the previous wave {iv}, estimated at $370.

Technical Analyst: Alessio Barretta.