Today’s instrument is the Microsoft Corp. stock traded in the Nasdaq exchange under the ticker MSFT.
Image Source: Unsplash
If we look at the MSFT Monthly chart, we can see after its brief pullback at the end of September where it fell from the $300 price range, it found support at $282 where it consolidated and made a slow gradual climb, climbing up and above $300, but also formed new all-time highs $312. Its nearest support can be found at $305 and the closest overhead resistance at $312. Its last traded price was $310.
Microsoft Corp. had scheduled a third-quarter earnings announcement yesterday, 26/10/2021. The earning expectations were surpassed, and we witnessed a positive reaction, with the stock hitting new all-time highs of $312.
Today, we could expect a pattern continuation and another move above the $312 level extending its gains.
If however, it doesn’t manage to hold the current level then a move near the $305 could be possible.
From all of us here, we wish you successful and responsible trading.
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