Recently closed my long position on MFST due to nearing the end of this ascending wedge
MSFT-
Ascending wedge is coming to an end.
Price position in wedge is closer to breakdown point (support) than breakout point(resistance).
Multiple gaps close enough to fill down.
Almost no volume today on MSFT, very similar to SPY which I entered short on.
Bullish trend is over extended. Bearish trend is coming.
I am long term bullish on MSFT, but bearish on the upcoming trend great for short term swing trade or put options.
MSFT-
Ascending wedge is coming to an end.
Price position in wedge is closer to breakdown point (support) than breakout point(resistance).
Multiple gaps close enough to fill down.
Almost no volume today on MSFT, very similar to SPY which I entered short on.
Bullish trend is over extended. Bearish trend is coming.
I am long term bullish on MSFT, but bearish on the upcoming trend great for short term swing trade or put options.