Don't Ignore This Chart!

Microsoft Forms Second Candlestick Reversal in Four Weeks


Microsoft (MSFT) sprang to life with a harami on Tuesday-Wednesday and a gap up on Thursday. This gap confirmed the harami and should be considered bullish as long as it holds. A move back below 46 would fill the gap and negate this reversal. Note that the long-term trend is up as MSFT hit a new high in mid November. Furthermore, the harami-reversal formed just above the prior candlestick reversal, which was a piercing pattern and gap. 

Click this image for a live chart.

Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
Subscribe to Don't Ignore This Chart! to be notified whenever a new post is added to this blog!
comments powered by Disqus