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Microsoft Finally Breaking To The Upside

ByDragonfly Capital
AuthorGregory W. Harmon
Published 11/08/2013, 01:44 AM
MSFT
0.74%

Microsoft Corporation, (MSFT) is doing the unthinkable. After 12 years trading in a box consolidation it is breaking out to the upside. The stock has truly been a dog. Trading between the 50% and 61.8% retracement of the move higher from the dot com bubble for most of that 12 years it did show signs of strength that I noted in March 2012 and traded off of. But the big test is now upon us. At the top of the box with a Measured Move to 54 on a break higher. From there it is just a stone’s throw to retrace to
Microsoft
the previous high at 60 with some resistance at 40 and 46 along the way. The Relative Strength Index is supporting a continuation and the MACD is rising, also in support of higher prices. Finally the Bollinger bands® are turning higher and opening while the Simple Moving Averages (SMA) are all below the price and now rising. These are all positive technicals. If you want a stock to invest in this looks like a winner as it moves over 38.

Disclosure: The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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