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Asset Watch
Tuesday, November 1, 2022
During those bear market declines, volatility was abundant. However, as the negativity eased, Microsoft recorded higher lows before realizing sizable rallies. Moreover, with a similar pattern present now, Microsoft hit an intraday low of $219.13 on Oct. 13. That said, the earnings-related sell-off only pushed the stock to an intraday low of $225.78 on Oct. 27.
So, while the holiday earnings season may be relatively weak, relative strength is present from a technical perspective. And with November and December known for their bullish seasonality, Microsoft should perform well if the S&P 500 continues its ascent.
Could the third time be the charm or will inflation, rate hikes and a challenging macroeconomic environment prove too much to overcome?
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