Microsoft is following a pattern of trend then pullback/consolidation followed by trend and so on.
Although the pullbacks and consolidation zones do last a few weeks, this stock is a consistent mover,
and just requires patience if a position is held.
At the moment, we are seeing a trend in play, forming higher highs and higher lows with price now
making its way towards the all-time high at $263.
The 50 simple moving average is below and should act as support if we experience a deep pullback.
The last time price made contact with this indicator was back in March of this year. The fact that
price has not hit it since demonstrates how smooth the current bullish move is.
Microsoft has formed strong linear trends in the past and although the current move is not linear,
we could see momentum pick up and form another nice move.
The $300 round number is above and is the next level of resistance as this is a psychological level.
We are now in a waiting game as price approaches resistance.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
Although the pullbacks and consolidation zones do last a few weeks, this stock is a consistent mover,
and just requires patience if a position is held.
At the moment, we are seeing a trend in play, forming higher highs and higher lows with price now
making its way towards the all-time high at $263.
The 50 simple moving average is below and should act as support if we experience a deep pullback.
The last time price made contact with this indicator was back in March of this year. The fact that
price has not hit it since demonstrates how smooth the current bullish move is.
Microsoft has formed strong linear trends in the past and although the current move is not linear,
we could see momentum pick up and form another nice move.
The $300 round number is above and is the next level of resistance as this is a psychological level.
We are now in a waiting game as price approaches resistance.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
