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Good technical signals and a possible breakout for MICROSOFT CORP.

By Mill Chart

Last update: Apr 12, 2024

Our stockscreener has identified a possible breakout setup on MICROSOFT CORP (NASDAQ:MSFT). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NASDAQ:MSFT for potential opportunities.

MSFT Daily chart on 2024-04-12

Deciphering the Technical Picture of NASDAQ:MSFT

ChartMill employs a sophisticated system to assign a Technical Rating to every stock in its analysis. This rating, which ranges from 0 to 10, is determined by carefully assessing multiple technical indicators and properties.

Overall MSFT gets a technical rating of 10 out of 10. Both in the recent history as in the last year, MSFT has proven to be a steady performer, scoring decent points in every aspect analyzed.

  • Both the short term and long term trends are positive. This is a very positive sign.
  • Looking at the yearly performance, MSFT did better than 87% of all other stocks. On top of that, MSFT also shows a nice and consistent pattern of rising prices.
  • MSFT is part of the Software industry. There are 277 other stocks in this industry. MSFT outperforms 76% of them.
  • MSFT is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
  • In the last month MSFT has a been trading in a tight range between 412.79 and 430.82.

For an up to date full technical analysis you can check the technical report of MSFT

How do we evaluate the setup for NASDAQ:MSFT?

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the extent of consolidation in the stock based on multiple short-term technical indicators. Currently, NASDAQ:MSFT has a 8 as its setup rating:

MSFT has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 428.75. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 423.26, a Stop Loss order could be placed below this zone.

Trading breakout setups.

To potentially initiate a trade, it is common practice to wait for the stock to break out of the consolidation zone. This breakout signifies a potential upward movement, and traders may enter the stock at that point. Conversely, if the stock falls back below the consolidation zone, it may be sold at a loss.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

Our Breakout screener lists more breakout setups and is updated daily.

Disclaimer

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.

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MICROSOFT CORP

NASDAQ:MSFT (5/17/2024, 7:14:42 PM)

After market: 420.21 0 (0%)

420.21

-0.78 (-0.19%)

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