MSFT closes lower for the 3rd day in a row


Microsoft Corp. (MSFT) Technical Analysis Report for May 17, 2018 [1 min read]
Highlights
MSFT breaks key support level
MSFT closes below its opening price unable to hold early session gains
MSFT closes lower for the 3rd day in a row
MSFT runs into sellers again around 97.54
MSFT breaks below previous session low
TQ Sentiment
Report Sentiment: 62% Bearish
Technical Forecast:
Overview

Moving lower for the 3rd day in a row, MSFT finished Thursday at 96.18 losing $0.97 (-1.0%) on low volume. Today's closing price of 96.18 marks the lowest close since May 8th. Trading $0.78 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Wednesday's low at 96.62, the stock confirms its breakout through the previous session's low having traded $0.79 below it intraday.

Daily chart for MSFT
Volatility

Thursday's trading range was $1.71 (1.77%), that's slightly below last trading month's daily average range of $2.06. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

Price Action

In a volatile session, prices traded above the prior day's high as well as below the previous day's low, forming a bearish Outside Bar.

Support/Resistance

Prices are trading close to a key support level at 95.05. Breaking below the key support level at 96.71 today, it is now likely to act as resistance going forward. After having been unable to move above 97.40 in the prior session, the market ran into sellers again around the same price level today, failing to move higher than 97.54.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a slightly bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Microsoft Corp.
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
White Candle TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

MSFT finds buyers at key support level

Aug 14, 2018
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