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MSFT Elliott Wave Analysis Trading Lounge Daily Chart

Microsoft Inc., (MSFT) Daily Chart

MSFT Elliott Wave Technical Analysis

FUNCTION: Counter Trend

MODE: Corrective

STRUCTURE: Zigzag

POSITION: Intermediate (2)

DIRECTION: Bottom in wave A of (2).  

DETAILS: We are considering a significant top in place with wave (1), and we are now looking for a three wave move correction into wave (2). We seem to be finding buyers on Medium Levell 400$, looking for 400$ to turn into resistance.  

MSFT Elliott Wave Analysis Trading Lounge 4Hr Chart

Microsoft Inc., (MSFT) 4Hr Chart

MSFT Elliott Wave Technical Analysis

FUNCTION: Counter Trend

MODE: Corrective

STRUCTURE: Zigzag

POSITION: Wave A.  

DIRECTION: Bottom in wave {v}.

DETAILS: I can count a clear five wave move into wave A, with alternation between {ii} and {iv}. Looking for a pullback in wave B to then fall back lower.

In this comprehensive Elliott Wave analysis for Microsoft Corporation (MSFT), we provide an in-depth review of the stock’s potential movements based on its current wave patterns, as observed in both the daily and 4-hour charts on April 26, 2024. This analysis aims to assist traders and investors in understanding the underlying market dynamics and planning their strategies accordingly.

* MSFT Elliott Wave Technical Analysis – Daily Chart*

The daily chart of MSFT shows the stock in a corrective phase with a zigzag structure, identified as Intermediate wave (2). Currently, the stock is witnessing a bottom formation in wave A of (2). After observing a significant top in wave (1), MSFT appears to be undergoing a corrective three-wave movement. The price level around $400, which has been attracting buyers, is anticipated to evolve into a resistance level. Traders should monitor this zone closely for potential reversal signals.

* MSFT Elliott Wave Technical Analysis – 4Hr Chart*

Moving into the 4-hour chart, the analysis continues to reflect a counter-trend with a zigzag corrective structure, highlighting the end of Wave A. Here, a clear five-wave movement has been identified, with distinct alternations between waves {ii} and {iv}. The current position, at the bottom of wave {v}, suggests that the stock might experience a short-term pullback in wave B before potentially declining further. This provides a strategic point for traders to look for entry and exit points during the unfolding of wave B.

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