Microsoft could bounce off the hourly 200ma to target $40 | #MSFT


Updated December 9, 2013 ● 652 views
MSFT

Microsoft (MSFT) has been hit this morning down 4%. Looking at the hourly chart above, there were 3 past occasions where it bounced off the hourly 200ma and made new highs.

Looking at the Fibonacci chart, I see 161.8% is the real target here. That is the price target of $40.

Getting some weekly calls would be profitable if MSFT bounced off the hourly 200ma which is close to $37.

Now, my style of trading is usually based on technical breakout. I'm making this trade based on the previous chart price action.

ACTION 12/05: 
MSFT is trading at $37.4. I bought some cheap DEC13 39.5 calls priced at 0.10 cents. Price target is $40 by next week which could make 300-500% profit.

UPDATE 12/05 close
CALL is now worth 0.16 cents... or up 60%!

UPDATE 12/06: 
MSFT trading at $38.5, 110% up in one day trade! Trimmed position, left profit to ride next week.
MSFT closed at $38.36.

4 Comments

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1

Nice! Just like how you predicted. So far, MSFT has jumped from $37.18 to $37.91!

JoeBiggs · 6 years ago
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0

Made the call at $37.4 yesterday,,,, it's above $38.4 now!

David · 6 years ago
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0

$38.18 is the resistance that needs to break to reach $40 target.

David · 6 years ago
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0

I missed the bottom... :(

money101 · 6 years ago
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