I don’t look at the chart often for $MSFT as I am just not a believer in the legacy software/tech space. However, I know that many investors like the company and the PC software dominance it enjoys.
So what does the chart show us? Here is a look a the Daily:
- A trend line break this week
- The MACD has made a new low ahead of Price
- A significant number of RED volume bars on this drift down from the highs above the $31 level in September
- It is now within 3% of the lows from early May
- Well under the 20 SMA now
Do bargain hunters show up now? Is it better risk/reward to enter a new long here?
As @daytrend often says, your money you decide.