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Short Microsoft $MSFT: Here Is The Technical Level

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As markets continue to rally, investors are becoming more confident. The vibe is now that COVID-19 will pass soon and it will be business as usual. In reality, that is unlikely. Until there is a vaccine, there will be no ‘business as usual’. Having said that, the rally can last a little longer. Microsoft is likely to head up to the major technical chart resistance at $178.50. That is my key short level to attack. Once there, I will pull the trigger. I will also begin shorting the S&P and NASDAQ 100.

Based on all technical cycle work, there is still another leg lower that could take us lower than the recent $SPY low of $220.00.

See the chart here: https://inthemoneystocks.com/short-microsoft-msft-here-is-the-technical-level/

Gareth Soloway
Chief Market Strategist

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