Related news
This week presents annual accounts a large part of technology companies that make up the Nasdaq. This Tuesday it was the turn of Microsoft. The listed company specialized in software development and support has begun preparations for the arrival of Windows 10 21H1 systems.
The analysis houses estimated revenues of $ 40.23 billion for its 2020 results. The published balance raised the mark to 80,230 million in the first semester, above consensus forecasts.
Microsoft shares plummeted from $ 190 to $ 133 because of the pandemic. From there, the titles have started a recovery and the price has appreciated almost 70% to 233 dollars, all-time highs zone which is acting as a support for the quote.
Microsoft stock market performance.
–
–
From a technical point of view, the stocks are in an uptrend in which we have seen several supports of this formation. The RSI is below level 70, which would indicate overbought of securities. This would give us scope to take bullish positions with a target of $ 250.
The 100 session moving average is acting as support, losing it could bring a strong corrective move for Microsoft’s actions. In this sense, to minimize the risk of our strategy of trading we put a stop dynamic just below of the uptrend.
*** Guillermo Torrego is an analyst of XTB
– .
