Microsoft Corp (NASDAQ: MSFT) A potential bullish reversal to the upside as:   

1. The bullish hammer candlestick formed on 16 September at the double bottom support area of 241.00-246.00 points towards a bullish upside.
2. Bullish divergence was also observed where price made a lower high towards the support area while the Relative Strength Index (RSI) technical indicator made a higher high. This discrepancy points to a bullish upside as momentum is picking up despite the bearish price action.
3. Price could reach the resistance level at 268.00 which is confluence of ichimoku cloud resistance at 267.85, a downtrend resistance line and 50% Fibonacci retracement level resistance, with the swing high of 294.18 and swing low of 242.06 as points of reference.

*Expected timeline of the trade is 13 weeks from the date of report issuance.

CHART LEGEND

Red box = Resistance zone

Green box = Support zone

Blue line = Conversion line

Red line = Base line

Green area = Ichimoku cloud