MSFT May 20, 2024: Waiting For A Trendline Breakout

On May 20, 2024, after moving above MA-50 and holding for 2 days, MSFT looks ready to breakout above the yellow trendline as shown on the chart, which would provide a buy point.

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The stock closed at the new high for last 2-3 days, though not that strong enough. Nevertheless, the long position was triggered as the stock moved above the trendline and we are still holding now.

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As of June 12, MSFT closed at the new high with higher-than-average volume and close at the high of the session, which is a positive sign to continue holding the position. A little pull back to the previous resistance would provide a good new entry point.