Microsoft failed to sustain bullish momentum after breaking ATHs and is now back to the trading range it has been in since the start of the year.
The past 2 days have been quite bad for Microsoft as it has suffered together with the other software names (chiefly CRM).
Long term this is still the winner in enterprise software, so don't look to short it.
If price continues to fall, Support will be found at 398 and 389, after which its a big potential gap to the 200MA currently at 378.
Friday was a bullish hammer candlestick at the 50MA so we may see some positive price action on Monday.
RSI is middling at 46 so price can go either way
What do you think of Microsoft?
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
