MSFT closes lower for the 3rd day in a row
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.
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.
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.
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.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
While classical technical analysis indicates a slightly bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
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|Price broke through Technical Support S1||TQ Pro Members Only|
|High close to previous High||TQ Pro Members Only|
|Closed below last periods low||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|3 Consecutive Lower Closes||TQ Pro Members Only|
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