Timeframe: Daily
Microsoft (MSFT) has been on a bullish run since late 2022, forming a distinct upward pattern over the past 15 months. Currently, it appears to have completed a corrective wave (4) around the $309.45 mark and is now in the process of forming the final wave (5).
Within wave (5), the fifth sub-wave is underway and appears to have extended. It’s expected that this sub-wave will cover a minimum distance equivalent to 100% of the distance covered in previous impulse at $428. The next significant price target is projected to be around $460, which represents a 100% extension from wave 1 to wave 3. This level also aligns with the upper boundary of a major channel.
Considering these factors, there seems to be a favorable trading opportunity targeting the mentioned price levels, with a prudent approach of setting the low of the minor channel as the invalidation level. It’s anticipated that once wave (5) completes, there might be a fall/corrective formation, possibly at the upper band of the major channel.
We will update further information soon.
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