Elliott wave analysis view for MSFT suggests the decline from November 22, 2021 high is unfolding as a flat correction.
It turned out to be quite an interesting structure. Down from November 22 ATH wave (w) ended at 328.2 as simple ZZ, and rally in wave (x) is expanded flat ended at 343.86 (as we know each reactionary wave, labeled X, can take the shape of any corrective pattern). Wave (y) is ZZ and ended at 317.2. So we have complete WXY combination as a part of wave [a] of flat. Rally in wave ended at 344.3 with internal subdivision as a ZZ. Final leg wave [c] ended at 300.63 as ending diagonal and it has extension 1.272 from wave [a].
In terms of technical analysis, we have a price stop near the strong level of 305 and a good demand zone from 300.. There is also convergence of price and RSI indicator.
I can assume that wave 4 has probably ended and the formation of sub-waves of the 5th wave will soon begin.
It turned out to be quite an interesting structure. Down from November 22 ATH wave (w) ended at 328.2 as simple ZZ, and rally in wave (x) is expanded flat ended at 343.86 (as we know each reactionary wave, labeled X, can take the shape of any corrective pattern). Wave (y) is ZZ and ended at 317.2. So we have complete WXY combination as a part of wave [a] of flat. Rally in wave ended at 344.3 with internal subdivision as a ZZ. Final leg wave [c] ended at 300.63 as ending diagonal and it has extension 1.272 from wave [a].
In terms of technical analysis, we have a price stop near the strong level of 305 and a good demand zone from 300.. There is also convergence of price and RSI indicator.
I can assume that wave 4 has probably ended and the formation of sub-waves of the 5th wave will soon begin.
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Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.