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dorfmanmaster

Microsoft channel break Analysis

Long
Microsoft Corp. (NASDAQ:MSFT)  
dorfmanmaster  
NASDAQ:MSFT   Microsoft Corp.
Trend Analysis Technical Indicators Beyond Technical Analysis microsoft azure amazon clouds software jedi channelbreak XLK largecap
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trendanalysis indicator beyondta microsoft azure amazon clouds software jedi channelbreak xlk largecap
Fundamental / Technical / News analysis

  • Microsoft earnings were positive.
    But they were not enough to break this channel since June 10th.

  • Today we gapped above resistance, breaking the channel.
    This was caused due to Microsoft winning the JEDI contract from the US government; who beat Amazon, Oracle and IBM cloud platforms.

  • Revenue from the JEDI contract is estimated at $10 billion over 10 years.
    The value of the contract isn't significant to Microsoft market cap of $1 trillion (1%), specially as it will take a decade to get.
    However, Microsoft earnings gave Azure (cloud service) a lot of importance. Beating its competition in this area, will boost sentiment. After all... we did break resistance on this specific news! Price talks more than anything.

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