Trading Plan for Jan-28-2020 – MSFT

Watchlist:

Big Picture SPY:

Markets fear over the coronavirus. European markets had dropped as well as SPY. Most of leader stocks had sell off.

SPY is taking a break on the Daily Chart. Big gap. SPY seems to be ready for a pullback. We need to be a little bit cautious, let the market settle down a bit and take a breath.

SPY on the 30-MIN chart – Big pullback till the 322.86 area. Let´s see if the price can hold over VWAP and push the price higher.

SPY on the 5-MIN chart – In a Channel: Resistance at 325.84 – Support at: 322.80 – Monday’s sell-off could also be seen as “normal” cycle after an “amazing” start to 2020

Be alert but don´t panic. The sell-off could reverse due to upcoming earnings.

Intraday Fundamentals – MSFT:

Second Day-Play

Beta: 1.17

ATR: 2.22

R.Vol: 1.44

Avg. Vol: 21.77M

Current Volume: 31.284.431

Short Float: 0.83%

Shares Outstanding: 7.52B

Institutional Ownership: 74.60%

Technical Analysis – Daily Chart – MSFT:

Even though the markets had a sell off yesterday, MSFT kept a strong day. Gap down on pre-market and on the opening but quickly regained strenght. Support at: 160.32 and Resistance at: 163.42 – Very close to 52W high at: 168.19.

Technical Analysis – 5-MIN – Chart – MSFT:

A very good opening drive. Price held VWAP all yesterday´s session. Look for opportunities on the long side if price holds 161.97, if breaks 161.97 (support) most likely prices could look for 160.26

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