Correction for Microsoft Stock

MSFT stock broke below the weekly ascending trendline.

4H RSI showing bullish divergence as a sign for a weaker sell pressure and possible correction to the upside.

On the daily chart price is near the 618 Fibonacci and also horizontal support.

It is very likely that the price of the stock will make correction upwards and test the price level between 382 Fibonacci and Daily 200 MA – $148 – 156, where the price should rebound and continue its movement lower.

Level of support: $131-135
Level of resistance: $148-156

 Trader Georgi Bozhidarov

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