MSFT a buy after product launch close to 1 hr oversold level

Microsoft announced today the release of a new dual-screen phone that runs the Android operating system (as opposed to the old Windows phones, which were limited in terms of what apps you could get). Since the announcement, the stock has bounced to a new support level and broken a downward trend line that it formed over the last few days. It's just recovered from oversold level on the hourly chart, so this is an attractive RSI to buy. MSFT has a 9/10 Equity StarMine Summary Score and is rated "Undervalued" (76/100) by S&P Capital IQ. This is one of the best mega-cap buys on the market right now.

Commentaire:

MSFT pulled back to the trend line to close the day. I'm a little worried by how high the selling volume was on the pullback. Still, we ended the day *at* the trend line, not below it, which is a good sign. After hours movement also looks good so far. The stock could certainly still move lower from here despite the trend line break.