Microsoft Weekly Market Analysis, Oct 9, 2011

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Microsoft price managed to reverse after stock was trading below 25.10, this reverse seems to be strong one after stock ending higher towards retest of the 26.86 level. This reverse signals that there is  strength for upward push and price should head toward a test of the upper trend line and our vision for next week is neutral as long as price is contained in this symmetrical triangle. Recovery to continue price must break above 26.86 resistance level, break above it would send price towards upper leg of  the triangle. Break above the line and of 28.16, would extend the recovery targeting 31.50 level. However on the downside, break below of the key support level at 24.65 would be in favor for down move targeting 23.68 and flip back the bias to bearish. Further decline could be seen after price drop below this support.

 

 

micro weekly 9 Microsoft Weekly Market Analysis, Oct 9, 2011


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