Microsoft Chart Nearing Epic Short Level

Shares of Microsoft Corp (MSFT) are hitting new all-time highs again. This is almost a normality on a daily basis. With a market cap of over $2 trillion-Dollars, Microsoft is the second most valuable company in the world. Having said that, the stock chart is telling investors to be weary once price hits $270.50. That is less than $1 Dollar away from the current price. The reason for caution is a major trend line of resistance connecting the recent high pivots of September 2nd, 2020 and April 22nd, 2021. From these pivot highs, Microsoft saw a sharp correction of between 10-15%. When the current price tags this trend line, swing traders can look to short the stock for another 10%+ correction. This is a high reward swing trade setup.

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