MSFT Showing Strength on Retest Ahead of Earnings
Percentage of Shares Held by Institutions is a bit low at 69% for
MSFT
stock right now. However, the indicators are showing some strength as it retests the lower level of resistance above its current price.
MSFT
reports earnings next week on Tuesday. Microsoft has focused on AI for small businesses, the market niche that helped move it out of its 16-year slump until 2016, and during the pandemic. The pandemic anomalies in revenues should be patterned out this earnings season.
The stock has ample support at the most recent lows. It is a heavily weighted component of all 3 indexes, so an important report for Q3.
MSFT
stock right now. However, the indicators are showing some strength as it retests the lower level of resistance above its current price.
MSFT
reports earnings next week on Tuesday. Microsoft has focused on AI for small businesses, the market niche that helped move it out of its 16-year slump until 2016, and during the pandemic. The pandemic anomalies in revenues should be patterned out this earnings season. The stock has ample support at the most recent lows. It is a heavily weighted component of all 3 indexes, so an important report for Q3.
Martha Stokes, CMT
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Learn how to use the technical patterns of each market participant for better trade planning.
