$MSFTon is putting on a highly volatile display on the 15-minute chart after a massive liquidity shakeout. A violent flush down to the $415.81 level aggressively hunted out stop-losses before a massive vertical green candle squeezed short positions and rocketed to a local high of $424.11. The price is currently seeing a minor pull-back candle to trade at $422.34 as the market digests this incredibly rapid $9 move. If buyers can successfully hold this region and turn previous local resistance into support, it paves the way for a continuation leg to challenge the daily high, while a failure to hold above the psychological $420 zone could lead to a deeper retest of the lower range boundaries.
MSFTon
Alpha
414.73
-0.49%
First target is $424.11 which stands as the immediate overhead resistance and local peak. Second target is $429.36 to retest and break past the current 24h high. Third target is $415.81 for a full downside retest of the recent liquidity flush low.