MSFT
had a balanced week in anticipation of earnings. The software giant has been consolidating in a range between the monthly 281.92 level and the weekly 292.35 level. We can essentially play this range until it breaks in either direction.
MSFT
is set to report earnings after market closes on tuesday. Technical Analysis:
MSFT
is consolidating in this range inside of a larger rising wedge (red & green).
MSFT
is also approaching a daily gap fill 294.22-296.14.
MSFT
is also approaching a short GP (This is measured from its all time high to its 2022 low). The 61.8% retrace is at 297.63, so we can watch this level as a key resistance, with 300 as a strong psychological level. If
MSFT
can break above the uptrend line (red) and clear the gap above, we can test the upside gap above (307-309.87). If
MSFT
invalidates the bear flag under the 281.92 monthly level, we could see
MSFT
test the 281.55 monthly level, and the gap below of 278.41-276.14. Upside Targets: 286.36 → 289.43 → 292.35 → 294.22 → 296.14 → 297.63
Downside Targets: 284.10 → 281.92 → 2280.10 → 278.73 → 277.52 → 276.05