Pin Bar on MSFT

MSFT Big Picture

  1. Price has been rising as highlighted by the bull trend line.
  2. Price broke out of key resistance level is retracing. (Resistance might have flipped to support.)
  3. Higher major swing lows.

MSFT Small Picture

  1. Strong bearish outside bar to below EMA had no follow-through.
  2. Earlier bullish pin bar failed.
  3. Current bullish pin bar found support at previous swing high and low of previous pin bar.

Trading Setup Analysis

MSFT broke out of long-term resistance before retracing back to test support levels.

Bullish pin bar shows strong rejection by support levels.

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