Microsoft – Stock Trading
MICROSOFT CORP NASDAQ:MSFT
I keep testing different methods for stock trading. This time the idea is to sell the overbought market. The price bounces from 112.00 resistance zone . RSI confirms the price reversal not far from the overbought zone. The signal could be stronger if RSI could reverse in the zone. MACD histogram supports a possible downward movement.
As the market does not provide solid signals for selling, just a few of them, it’s possile to wait for more confirmation or to use a small part of capital. Entry level should be below 111.00 level with stop above 114.50 level. The main profit target is at 100.00 level.
P.S. I don’t advice to use this signal for trading as I’m searching for workable ideas on how to trade in stock markets. But for paper trading – this idea is good.
Source: TW DLavrov