Microsoft stock (NASDAQ:MSFT)
is a bull market, which started several months ago, and which is supposed to
continue for the rest of this year.
Price has been going
upwards slowly and consistently in spite of occasional pullbacks and equilibrium
periods.
4 EMAs are used for this
analysis and they are EMAs 10, 20, 50 and 200. The color that stands for each
EMA is shown at the top left part of the chart.
All the EMAs are sloping
upwards – emphasizing a bull market. As usual, there would be transitory
pullbacks along the way, which may make price reach the EMA 10 or 20 briefly
before the uptrend continues. As long as price does not cross the EMA 200 to
the downside, the bullish outlook is intact.
In the year 2017,
Microsoft would reach the resistance lines at 60.00, 65.00 and 70.00.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Super Trading Strategies: Super Strategies
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