Short term Elliott Wave View suggests that the decline to 222.47 ended wave (2). The stock has started wave (3) higher but still needs to break above wave (1) at 247.7 on January 27 high to avoid a double correction. Up from wave (2), wave ((i)) ended at 233.37 and pullback in wave ((ii)) ended at 227.13. The stock extended higher in wave ((iii)) at 237.03 and pullback in wave ((iv)) ended at 231.84. Final leg higher wave ((v)) ended at 239.17. This completed wave 1 in higher degree. Pullback in wave 2 also completed at 229.35.
Internal of wave 2 unfolded as an Expanded Flat Elliott Wave structure where wave ((a)) ended at 231.81, wave ((b)) ended at 240.06, and wave ((c)) ended at 230.28. Microsoft has now turned higher in wave 3. Up from wave 2 low, wave (i) ended at 231.99, and pullback in wave (ii) ended at 229.89. Expect 1 more marginal high to end wave (iii), then pullback in wave (iv) before the final leg higher in wave (v). This should complete wave ((i)) of 3. The stock should then correct in wave ((ii)) before the rally resumes. As far as pivot at 222.47 low remains intact, expect dips to find support in 3, 7, or 11 swing for more upside.
