With a gap down, three day stall and gap up, Microsoft (MSFT) forged a bullish island reversal. Technically, the high of the 3-day consolidation is 24.31 and today's low is 24.32. The gap zone is one cent. Nevertheless, the essence of a island reversal is there.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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