In this technical blog, we are going to take a look at the past performance of 4 hour Elliott Wave Charts of Microsoft ticker symbol: MSFT, which we presented to members. In which, the rally from 06 January 2021 lows, showed the higher high sequence in an impulse structure favored more strength to take place. Also, the right side tag pointed higher suggested the same side. Therefore, we advised our members to buy the dips in MSFT in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:
MSFT 4 Hour Elliott Wave Chart
Above is the 4hr Elliott wave chart of MSFT from the 3/04/2021 update. In which, the pullback to $211.84 low ended bigger wave ((4)) and showed a strong impulse rally higher, which ended wave (1) at $247.70 high. Down from there, the MSFT made a pullback in wave (2) to correct the cycle from 1/06/2021 low. The internals of that pullback unfolded as an Elliott wave zigzag structure where wave A ended at $228.97 low. Wave B bounce ended at $246.13 high and wave C managed to reach the 100%-161.8% Fibonacci extension area of A-B at $227.27- $215.59. From where buyers were expected to appear in the stock looking for more upside.
MSFT Latest 4 Hour Elliott Wave Chart
Here’s the latest 4 hour Elliott Wave Chart from 04/15/2021 update. In which, the MSFT managed to reach the blue box area at $227.27- $215.59 & showing a strong reaction higher taking place from the blue box area. Allowed members to create a risk-free position shortly after taking the longs at the blue box area.
Source: https://elliottwave-forecast.com/stock-market/msft-offered-good-buying-opportunity/