Are we going to see sell on news for Microsoft?

Yesterday we talked profit taking after KO and we see that happened exactly even with good earnings reports as the share price has hit the resistance level. Today we think that the same thing might happened to Microsoft $Microsoft (MSFT.US)$ at it has reached the resistance around 290 earlier and it was unable to breakthrough.

Hence, we believe that today might be a profit taking day where most of the trading going to sell on news no matter the earnings are good or bad. Therefore, we see the next support level around 260 based on the fibo retracement at 0.618.

There is no urgency in collecting MSFT in our point of view until the share itself has find it support level.