Microsoft Trading Analysis (21/08/2024)

The trend is descending. The stock is trading in the range between 365 and 135 EMA. The upward wave structure is truncated. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an oversold condition.

Trading idea:

• Sell when the formation of the downward wave structure begins, when the wave A breaches the sloping channel of the upward truncated structure.
• Stop-loss above the local maximum of the ascending structure at 426.00.
• Price targets at 413.00 and 398.00.

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