Hi Shoppers,

They sold off the overall market yesterday ahead of the Fed’s announcement today.

There are two stocks that are setting up a bullish pattern.

First one is Microsoft (Ticker: MSFT) with a bull flag:

MSFT made a breakaway gap on the earnings announcement and has managed to stay at this level.

It is now bull flagging off that large green candle created on Apr 27.

A bull flag is a pause or consolidation while the stock is taking a breather before it makes its next leg higher.

I think MSFT can trade up to $317.

The second stock, which is also bull flagging is Apple (Ticker: AAPL):

I think AAPL can trade up to $175.

Trade accordingly.

Trade Review

I last showed you support with a hammer in the Energy Select Sector (Ticker: XLE).

It proceeded to trade $1.70 higher that day.

The move higher was short lived and it completely reversed yesterday, opening below that support level:

Looks to me like XLE is ready to revisit those lows created back in March which is the next support level coming in at $75.75.

Thanks for Reading … See You Next Tuesday,

Licia Leslie