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Asset Watch
Tuesday, October 31, 2023
But while Microsoft’s bottom-up fundamentals kept it out of investors’ doghouse, the short-term outlook could be even more prosperous if the stock recoups a key milestone.
For example, the one-hour chart highlights how Microsoft’s 50-hour moving average has been an important barometer for weekly rallies. The rectangle on the left shows how Microsoft recorded a false breakout in late August before dropping back below the 50-hour MA and then rallying above it for roughly the next three weeks.
The rectangle near the middle shows a similar pattern, where a false breakout turned into another breakdown before a roughly two-week upswing occurred. So, with Microsoft dancing around its 50-hour MA last week, the next jump above could be the start of another uptrend.
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