Technical Pulse: Microsoft Corp June 9, 2020 853

 

Microsoft Corp (US: MSFT) has been on a steady rise since mid-March 2020. Based on the technicals, we are expecting the bull to resume its upside after a period of consolidation.

  1. The consolidation between mid-May and early June has form a pair of higher lows. Thus, an ascending triangle has been formed.
  2. The bullish engulfing candle last Friday was confirmed by the following strong bullish candle on Monday. Also, the candle is reacting strongly at the resistance zone between $187.33 and $188.30.
  3. The bullish crossover of the 22-day and 50-day period moving average signify a confirmation of the bull trend.

 

*The technical call is valid for 3 weeks only.

*In the event should price reverse, the support at $180.05 will be the last support level. Invalidating it will see price heading towards $165.00

 

CHART LEGENDS

Moving average

Red dotted line = 200 day period moving average

Blue dotted line = 50 day period moving average

Green dotted line = 22 Day Period Moving average

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Get access to all the latest market news, reports, technical analysis
by signing up for a free account today!