[VIDEO]: Microsoft potential medium-term top in place

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  • Since its 52-week low of 93.96 printed on 24 Dec 2018, the share price of Microsoft has rallied by 48% to hit a current all-time of 139.54 on 15 Jul that has surpassed the performance of the S&P 500 by almost 2 times.
  • Since 15 Jul, Microsoft has staged 3-day of consecutive decline that shed -2.3% and from a technical analysis perspective, it has flashed out medium-term bullish exhaustion signals.
  • From its 12 Jun 2019 low, it has started to evolve within an “Ascending Wedge” configuration coupled with a bearish divergence signal seen in the daily RSI oscillator at its overbought region.
  • A break below the “Ascending Wedge” support at 135.74 is likely to trigger a potential 6% corrective decline towards the key medium-term support at 128.00.
  • However, a daily close above 140.14 pivotal resistance invalidates the bearish scenario for continuation of the impulsive up move to target 147.55 next.

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