Chart of the Day: Is That an Uptrend I See in Microsoft?
The beleaguered software and AI/gaming name has started its journey from deep oversold.
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Well, it’s about time. Microsoft (MSFT) has been circling the drain since peaking and reverseing in late May, the stock having its worst month (June) in decades. Thank goodness that month is over and we can get on with July. While the technical condition is still a bit cautious, we are seeing some green shoots appear after some decent buying action this week.
The MACD is about to roll higher for a buy signal, that is important as it tells us the trajectory before a move actually occurs. Money flow is weak but is improving and near the zero line, stochastics are turning up and could reach overbought with a few more up sessions. Candles though are pink and suggesting cautiously bearish, parabolic SAR (stop and reverse) is now bullish.
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With earnings out later this month don’t fall asleep on Microsoft, which can make some violent moves to the upside. We are here for it!
We like Microsoft in thestreet Pro Portfolio and rate it a two, stockpile on pullbacks.
