Chart of the day

Where do we stand fundamentally?

MSFT has recently joined tech companies in the AI race by improving their AI assistant Copilot and acquiring a Life science company. This has opened a new bullish cycle for the tech giant,

MSFT is going for a test of the strong 430 resistance. A break above this resistance is leading higher in the fifth long-term Elliott Wave to 550.

An invalidation level of a fifth wave extension higher is 430. We need to see a confirmed break higher above 460 for the fifth wave extension to be confirmed and a target of 550 to be reached.

_{Look for a long trade entry with a stop loss below 450 to target 550 at least. You can trade it with options as well.}