Microsoft is at an interesting point in it’s history. Price has reached some critical areas.
Click thumbnail below to see more. I’ve not entered a trade on Microsoft as yet. I may do so. For noobs, yes price may fall – that’s always a possibility in this game. You’ve gotta be prepared to lose, and limit those losses, in order to win. But so far price looks probably like it may rise. So I’m stalking this one carefully.
It’s just like playing the National Lottery or taking a chance in a raffle – innit – you prepare to lose a few quid, in order to hit the big prize, except that with this sort of trading transaction, you have control. Control? Yeah! That means you’re using your powers of observation to decide whether you put your money based on your analysis and risk assessment.
Microsoft has plummeted in recent weeks, but price is holding at the moment at an obvious level of support. If it falls lower there is at least one other level of support nearby.
Pivot point analysis also shows similar areas of support at around 4037, 3881 and 3732. Ooo pivot point analysis (clicking that causes a panic attack for most)? How technical. This is simply a way of calculating some areas of support. Nearly any decent trading platform calculates these automatically. I had identified the broad areas of support first before going for pivot calculations. My visual estimates matched pretty close the pivot point analysis. (How do I know all this stuff? It’s called self-directed learning – no course and no horse required. ) No one needs to know about pivot points to make successful trades. Like no one needs to know that cars have 4 wheels to be transported in them.
If I enter this one, I’ll update this blog.