8.11.17 | MSFT | Falling Wedge Breakout

MSFT | A quick profile: Price has formed a Falling Wedge Chart pattern inside a Downward Moving Channel. There is only 40 cents of room left for daily volatility inside the wedge which suggests a bullish breakout within the next two trading sessions. There is a strong support line directly under price as well as the .5% Fibonacci Retracement line. RVGI has already crossed over bullish, Stochastic's has entered oversold, and the MACD is trading inside the histogram at the 0 line.

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Trade Idea VOIDED on 8.16.17