Since my last post here, Microsoft has been ranging ever since it hit 278. Its current price is 277.94
in the short term (leading up to it’s earnings call on 22nd July) , I’m seeing
the bear case of the stock price dipping to 268.62 or even as low as 262.79.
the bull case of the stock price hitting 280.69 but rebounding off the strong resistance again
The bear case is stronger than the bull case because of three reasons
- The RSI is at overbought territory
- Cancellation of the JEDI contract previously awarded to Microsoft
- Evening Star appearing in the weekly chart
Mid to Long term wise, I have absolute confidence in the stock and holding it for sure.