Hello Traders, welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe Microsoft stock just recently created an awesome double bottom and also already broke above the neckline confirming the weekly pattern. As we are speaking the market is retesting the neckline of the double bottom which is now turned support so from a weekly perspective I just do expect the continuation towards the upside from here.
On the daily timeframe however the market is currently massively bearish and I definitely don't want to catch a falling knife so I am now just waiting for some bullish structure on the daily timeframe before I will look to enter longs to capitalize on the continuation towards the upside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
Right now is hard to tell what is going to be. The price is testing also the MA 200 which was a strong resistance since august 2022 and that also is along with the downtrend line marked at the weekly chart. A breakout of these strong supports could lead to more decline, but as I say in my own idea something interesting is about to happen.
my sentiment for MSFT will still be shorting until an important zone is breached, i.e from 242.32 - 235.29. if this zone holds true, i would like to see a rise of this stock. all the best