You are here: Home > articles > Forex > Technical Analysis – Microsoft stock maintains bullish outlook below record high
Technical Analysis – Microsoft stock maintains bullish outlook below record high
February 17, 2020 2:26 pmVideo
Latest News
- Analysis of EUR/USD pair on May 24, 2024 May 24, 2024
- Analysis of GBP/USD pair on May 24th. Another British report showed weakness, but who cares? May 24, 2024
- USD/JPY: Simple trading tips for novice traders on May 24th (US session) May 24, 2024
- GBP/USD: Simple trading tips for novice traders on May 24th (US session) May 24, 2024
- EUR/USD: Simple trading tips for novice traders for May 24th (US session) May 24, 2024
- GBP/USD: trading plan for the US session on May 24th (analysis of morning deals). Sellers missed 1.2700 May 24, 2024
- EUR/USD: trading plan for the US session on May 24th (analysis of morning deals). The euro is not going to give up May 24, 2024
- EUR/USD. May 24th. The bears are starting to go on the offensive May 24, 2024
- Forecast of GBP/USD pair on May 24, 2024 May 24, 2024
- Trading Signals for EUR/USD for May 24-28, 2024: sell below 1.0864 (200 EMA – 21 SMA) May 24, 2024
- Trading Signals for GOLD (XAU/USD) for May 24-28, 2024: buy above $2,333 (200 EMA – oversold) May 24, 2024
- Weekly Forex Outlook: 24/05/2024 – US PCE inflation and Eurozone CPI data enter the spotlight May 24, 2024
- Technical Analysis – Is the pause in NGAS a warning signal? May 24, 2024
- Technical Analysis – USDCAD eases slightly after bullish rally May 24, 2024
- Week Ahead – US PCE inflation and Eurozone CPI data enter the spotlight May 24, 2024
- Technical Analysis – GBPJPY continues its journey north May 24, 2024
- Video market update for May 24, 2024 May 24, 2024
- Forex forecast 05/24/2024: EUR/USD, GBP/USD, USD/CAD, Gold and Bitcoin from Sebastian Seliga May 24, 2024
- USD/JPY: trading tips for beginners for European session on May 24 May 24, 2024
- GBP/USD: trading tips for beginners for European session on May 24 May 24, 2024
Microsoft’s stock price is trading not too far from the new record high of 189.50 on Tuesday, having pulled back slightly. But momentum indicators suggest that a possible downside correction may be on the cards.
In regard to the technical oscillators, the near-term bias is looking neutral-to-bearish as the RSI is flatlining at the 70 level, while the stochastics are pointing south and the %K and %D lines are negatively aligned.
Should the price make another run higher, it’s likely to meet resistance at the all-time high of 189.50. A successful break above this key resistance area would open the way for the next psychological barrier of 200.00.
If the marginal pickup fails to hold and prices turn lower, the red Tenkan-sen line at 182.75 is the nearest support that could halt steeper declines ahead of the 181.80 mark. A potential support, though, is the 168.10 level near the 23.6% Fibonacci retracement level of the up leg from 94.50 to 189.50 of 167.17.
The bullish picture also holds true for the long-term outlook as the pair has been trading higher, following the bullish tendency over the last year. Price action at the moment is above the Ichimoku cloud so the risks are to the upside.
Related Posts: