If Microsoft Stock Support Fails, Here’s When to Buy
At this week's low, Microsoft stock was down more than 31.5% from its all-time high. That's the worst decline in more than a decade.
Just a few months ago, $Alphabet-A(GOOGL.US$ $Alphabet-C(GOOG.US$ , $Microsoft(MSFT.US$ and $Apple(AAPL.US$ were the relative strength leaders among megacap tech. They were the best of the bunch and withstanding the selling pressure quite well compared with peers.
Now, only Apple remains in that group (and is actually joined by $Tesla(TSLA.US$ at the moment).
Microsoft has reported mostly solid quarterly results and even just this week, it delivered a 10% dividend boost.
Just a few months ago, $Alphabet-A(GOOGL.US$ $Alphabet-C(GOOG.US$ , $Microsoft(MSFT.US$ and $Apple(AAPL.US$ were the relative strength leaders among megacap tech. They were the best of the bunch and withstanding the selling pressure quite well compared with peers.
Now, only Apple remains in that group (and is actually joined by $Tesla(TSLA.US$ at the moment).
Microsoft has reported mostly solid quarterly results and even just this week, it delivered a 10% dividend boost.
While the pullback has been difficult, the levels now are clear.
The shares are currently teetering on the $240 level. That’s the 50% retracement from the all-time high down to the covid low in March 2020. It’s also where this year’s low came into play, in June.
If this level holds, I want to see how Microsoft does on a rebound to $250. Above that opens the door to the 10-week and 21-week moving averages in the low- to mid-$260s.
On the downside, a break and close below $240 could open the door down to the $215 to $225 area.
The shares are currently teetering on the $240 level. That’s the 50% retracement from the all-time high down to the covid low in March 2020. It’s also where this year’s low came into play, in June.
If this level holds, I want to see how Microsoft does on a rebound to $250. Above that opens the door to the 10-week and 21-week moving averages in the low- to mid-$260s.
On the downside, a break and close below $240 could open the door down to the $215 to $225 area.
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