Come October and the shares of Microsoft registered an astonishing surge of 3.76%. It could herald the start of a bullish rally. However, there are many riders and the most important is investors need fresh longs to sustain higher areas.
Microsoft Corporation is in the process of developing its products and services for consumers. It has just launched 4 tools for content creators which can significantly augment the quality of their creations. However, despite the launch of cutting-edge products by Microsoft Corporation its stock prices have failed to go up and perform well. Therefore, asset prices are falling quickly, in contrast, growth is weak and takes much time to recover.
Microsoft Share Price Have Seen Action Within A Small Band Of Parallel Pattern
Microsoft Share Price had touched an all-time high of $349.67, but its shares have continued to underperform and in midst of selling pressure, its price action has formed a higher low and lower high pattern. Therefore, Microsoft prices have seen action within a small band of the parallel pattern. At present, its share prices are exhibiting a position close to the support line of a bearish pattern.
Microsoft Share Price Must Overcome The 20 Day Moving Average
At present Microsoft Share Price is showing a positive pre-market opening of 0.20%. Its values stand at $240. The bullish opening promoted buyers to buy and continue the price recovery. However, a major hurdle in this bullish trend is the 20-day moving average is looming just above the current price of MSFT.
Support Benchmark– $220 and $200
Resistance Benchmark– $250 and $300