$MSFT 6-Week Bear Flag Near Breakdown

jfsrevg
03-19 12:46

$Microsoft(MSFT)$ — 6-Week Bearish Flag, RS Divergence

Microsoft has broken below a 7-year trendline support and failed to reclaim it during the early March bounce, despite a 10 vs 20-MA golden cross attempt.

The past 6 weeks of tight, congestive price action have developed into a bearish flag with price is now less than 5% away from its 9-month low.

There are actually multiple mega cap tech chart on the brim a 6/9-month low breakdown, which could amplify any significant downward price acceleration to the market cap weighted ETF charts (eg. $Technology Select Sector SPDR Fund(XLK)$ $Vanguard Mega Cap Growth ETF(MGK)$ ) due to their heavy weight.

Market Cap $2.9T | ADR: 2.1% | Avg $ Volume: $14.5B

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