Microsoft has completed a clear five wave decline from its prior impulse high, suggesting a structured wave C correction rather than random selling. Price has now tapped into the 0.786 retracement zone, an area often associated with corrective exhaustion.
Bullish divergence is also developing at the lows, indicating that downside momentum may be weakening. While divergence alone is not confirmation, combined with a completed five wave sequence it strengthens the case for a potential bottom.
If wave C has completed, the next phase would be a new impulsive move higher. The first upside objective sits at the unfilled gap region near 441, with the 0.618 retracement around 477 acting as major resistance. Acceptance into that zone would support the idea that a larger degree low is in place.
On the downside, the recent swing low remains the key invalidation level. A decisive break below it would suggest the correction is not yet finished.
If buyers step in with strength, expansion toward the gap becomes likely. If not, further downside development may unfold.
Bullish divergence is also developing at the lows, indicating that downside momentum may be weakening. While divergence alone is not confirmation, combined with a completed five wave sequence it strengthens the case for a potential bottom.
If wave C has completed, the next phase would be a new impulsive move higher. The first upside objective sits at the unfilled gap region near 441, with the 0.618 retracement around 477 acting as major resistance. Acceptance into that zone would support the idea that a larger degree low is in place.
On the downside, the recent swing low remains the key invalidation level. A decisive break below it would suggest the correction is not yet finished.
If buyers step in with strength, expansion toward the gap becomes likely. If not, further downside development may unfold.
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