Asset Watch
Tuesday, July 25, 2023
What’s more, Microsoft confronts a do-or-die moment on the technical front. The stock ended last week near support from its 2021 highs but hasn’t gained much traction above this area. In addition, last week’s profound reversal created a shooting star candle, where a large wick gave way to a close near the lows. The pattern is bearish and often marks the end of rallies.
If Microsoft sells off like Tesla and Netflix, a buying opportunity could be present near the 20-week moving average ($312.24). The level essentially marked the bottom during every decline in 2021 and ended the March 2023 pullback.
So, will Microsoft exceed investors’ expectations, or is a correction on the horizon?