Microsoft reaches technical support

Note: This section contains information in English only.
Source: Dukascopy Bank SA


From a fundamental perspective, the price of Microsoft stock started to decline due to profit taking before the publication of the quarterly financial results. It was forecast that the firm will report rising costs and slow down in the pace of increasing profits. The released quarterly results confirmed the suspicions. To sum it up - the firm is not making money from all the new artificial intelligence projects, but their development costs continue to increase.

From a technical perspective, the decline has occurred in a narrow channel down pattern. Meanwhile, prior low and high level ranges have been acting as support and resistance. Most recently, the price has reached the late May low level and the 200-day simple moving average and the lower trend line of the pattern near 403.60.

A potential recovery of the stock price is set to face the upper trend line of the channel down pattern near 420.00. If the pattern is broken, the price might approach the resistance range at 430.00/434.00. In addition, the 50-day simple moving average could strengthen the range.

In the case of a decline, there are two additional scenarios. The stock could pass the support of the 403.60 level and the 200-day simple moving average without breaking down below the support line. In this scenario, the price would be guided by the lower trend line of the pattern until Microsoft stock price reaches the 390.00 level that marks the April low level. In the case of the supporting trend line failing to hold, the share price will reach the 390.00 almost immediately.
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