MSFT Looking at a possible bottoming out

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MSFT is looking at a potential bottoming out after the Microsoft has formed a bullish morning star pattern above 123.6% Fibonacci extension level of 383.73-455.48 range. Furthermore, the strong bullish bar was seen closing above the gap and the previous resistance turned support low of 377.16.

Ichimoku has yet to show a clear bullish trend but the slight closure above the 9-period conversion line may see a strong signal.

MACD is still bearish over the longer-term period

Mid-term Stochastic showing oversold crossover signal

23-period ROC is showing a bullish divergence

Volume remain healthy.

Wyckoff analysis - Larger range from 8 Jul 2024 (Buying climax) is looking at a distribution. Hence, current rebound is likely to be in a sign of weakness phase.

Recommend to buy swing in 1-week to a month.

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2nd TP met!