MSFT break out right before earning but will it stick....?

26 de jan. de 2021

MSFT is breaking out of side way trading range since June 2020. It certainly looks bullish on the face value but will it stick. Trading right before the earning is tricky enough but it will be a bull trap if it does fail. If it does turn out to be a fake break out, it will be very swift fall to mid range of the range around $217 support and ultimately to the bottom of the trading range. Given the posture of QQQ, I am leaning more toward that scenario but the price action has been nothing but bullish so it will only be a potential short set up. Nothing actionable and it will be certainly a countertrend trade.

Have a good trade,

T.