Note: We are taking a break from Netflix in the Essentials plan for now, and instead initiated Bitcoin as the setup looks stronger at the moment. You can read this analysis here.analysis here.
Microsoft
Microsoft is a very mature pattern. Our long-term target is $378, which it is struggling to push through. This target completes the large uptrend that started in 2009, so a sizable pullback is expected when the current rally ends – sometime between now and late March/early April, is our best guess.
Regarding MSFT, if still needs to complete that final 5th wave swing higher. This could target between $400 – $415. Please understand the risk involved with this great company and where we are in the trend. We plan to look lower into 2024 for better entries, and plan to hedge the remainder of our position.
Nvidia
Though it looks likely that the October 2022 low was a major low, we should see a sizable pullback into 2024/2025. However, before that, Nvidia looks like it needs to push towards the $545 – $600 level to complete the large 5 wave pattern off the 2022 low. The risk here is that the red alternative top in the chart below does satisfy the minimum requirements for a 5th wave. Below $480 and risk becomes quite elevated that this is playing out.
Advanced Signals Members receive real-time trade alerts for our entries and in-depth technical analysis from the Portfolio Manager, Knox Ridley. Learn more here.here.
Recommended Reading: