TSLA
Tesla
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NVIDIA
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Palantir
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Apple
-- 220.840 GRRR
Gorilla Technology
-- 26.990 
Microsoft Stock: MSFT Stock prepares for a short-term correction
$Microsoft (MSFT.US)$ shares witnessed profit booking and a sudden rise in selling volume is also visible indicating mild bearishness. However, the price is near to the 50-day EMA which is likely to act as immediate support for the bulls.
MSFT stock is sustaining above the 50-day and 200-day EMA showcases the trend is in an upward direction. Therefore, any short-term correction is likely to get absorbed by the buyers near the support levels.
At the end of April, Microsoft’s stock price breakout of the $293.00 hurdle level which triggers positive sentiment. Later, prices began to rise upward by forming higher highs recovering the losses of the past two years.
In the previous quarter’s earnings, stock prices reacted positively and rewarded the short-term bullish traders. The investors expect a similar kind of pattern after current quarter earnings but prices are overstretched. So, the possibility of short-term correction is high.
MSFT stock is sustaining above the 50-day and 200-day EMA showcases the trend is in an upward direction. Therefore, any short-term correction is likely to get absorbed by the buyers near the support levels.
At the end of April, Microsoft’s stock price breakout of the $293.00 hurdle level which triggers positive sentiment. Later, prices began to rise upward by forming higher highs recovering the losses of the past two years.
In the previous quarter’s earnings, stock prices reacted positively and rewarded the short-term bullish traders. The investors expect a similar kind of pattern after current quarter earnings but prices are overstretched. So, the possibility of short-term correction is high.
Microsoft stock price performed well in the past few months due to the craze of ChatGPT and Artificial Intelligence. The broader market indices Nasdaq composite has also performed well which positively impacts the market sentiment.
MSFT stock price is in a strong uptrend so the possibility of big downside remains low. As per the price analysis, $322 is likely to act as strong support.
Till the time Microsoft stock sustains above $322 the probability of bounce back will remain high. However, if the price drops below $322.00 then the short-term trend will reverse downward.
MSFT stock price is in a strong uptrend so the possibility of big downside remains low. As per the price analysis, $322 is likely to act as strong support.
Till the time Microsoft stock sustains above $322 the probability of bounce back will remain high. However, if the price drops below $322.00 then the short-term trend will reverse downward.
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