(Update) MSFT

Back when Microsoft was trading at $244.52, we mentioned in the 17 September 2022’s commentary that a close below $241.53 could put downside pressure on Microsoft. Price since then reached $230 downside support and then some, with a new yearly low of $219.13. Taking into account of this, prices could retest $219.13 soon if prices stays below the $230 support turned resistance level. Downside support is at $219.13, the year to date low. In contrasts, a daily close above $241.53 level may open up the possibility of a rebound towards the $252 resistance.