Microsoft (MSFT) has one of the more intriguing charts that you will find out there today. In fact it may be one that I end up buying before day’s end.
You have a nice double bottom play, over the course of the past month, and followed by a breakout of the double bottom base yesterday. Where it gets really interesting is the pullback today with the slight market weakness. It actually dipped pretty hard, but has since recovered most of those losses and on an intraday basis, finds itself right at the breakout level again.
So now, the stock is making its move towards this monster gap that followed its earnings report and if filled, would take price beyond the $55 level making for a very solid trade.
Lots to like about this chart, and unless the market completely breaks down before the end of the day, there is a good chance that I’ll be long MSFT.
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