Source: PaxForex Premium Analytics Portal, Technical Insight

ByteDance refused to sell TikTok to Microsoft. Microsoft said they could ensure that TikTok meets the highest standards of security, privacy, online security, and combating misinformation.

Microsoft, H4

Pivot: 205.77

Analysis:

Provided that the asset is traded above 201.60, follow the recommendations below:

• Time frame: H4
• Recommendation: long position
• Entry point: 205.77
• Take Profit 1:  211.90
• Take Profit 2: 214.80

Alternative scenario: 

In case of breakdown of the level 201.60, follow the recommendations below:

• Time frame: H4
• Recommendation: short position
• Entry point: 201.60
• Take Profit 1: 196.80
• Take Profit 2: 193.90

Comment:

RSI below 50. MACD is negative and above the signal line. The configuration is mixed. Microsoft trades above its 20-period moving average (205.45) but below its 50-period moving average (207.82).

Key levels:

Microsoft, D1

Pivot: 207.74

Analysis:

While the asset is traded below 216.00, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 207.74
• Take Profit 1: 197.00
• Take Profit 2: 186.00

Alternative scenario:

If the level 216.00 is broken-out, follow the recommendations below.

• Time frame: D1
• Recommendation: long position
• Entry point: 216.00
• Take Profit 1: 232.90
• Take Profit 2: 250.00

Comment:

RSI shows a downtrend.

Key levels:

We also advise you to pay attention to Tesla for intraday trading:

Pivot: 372.72

Analysis:

While the asset is traded below 437.00, follow the recommendations below:

• Time frame: H4
• Recommendation: short position
• Entry point: 372.72
• Take Profit 1: 283.00
• Take Profit 2: 244.00

Alternative scenario:

If the level 437.00 is broken-out, follow the recommendations below.

• Time frame: H4
• Recommendation: long position
• Entry point: 437.00
• Take Profit 1: 506.00
• Take Profit 2: 548.00