[14 August 2024]
Today, Wednesday 14 August 2024, StockCharts365.com has taken a closer look at Microsoft (MSFT). It's starting to look suspiciously like a large head and shoulders formation here.
Read more about this below in the case here today.
First here a little about the company Microsoft Corp. (ticker at Nasdaq: MSFT)
Microsoft Corporation is a technology company. The Company develops and supports software, services, devices, and solutions. The Company’s segments include Productivity and Business Processes, Intelligent Cloud, and More Personal Computing.
The Productivity and Business Processes segment consists of products and services in its portfolio of productivity, communication, and information services. This segment primarily comprises: Office Commercial, Office Consumer, LinkedIn, and Dynamics business solutions.
The Intelligent Cloud segment consists of server products and cloud services, including Azure and other cloud services, SQL Server, Windows Server, Visual Studio, System Center, and related Client Access Licenses (CALs), and Nuance and GitHub; and Enterprise Services, including enterprise support services, industry solutions and Nuance professional services.
The More Personal Computing segment primarily comprises Windows, Devices, Gaming, and search and news advertising.
For more information about the company, visit their website here:
Technical Analysis of Microsoft Corp. (ticker at Nasdaq: MSFT)
Technical Analysis of Microsoft Corp. (ticker at Nasdaq: MSFT):
Although the stock exchanges and many shares have recovered a good deal in the past week, and after the strong correction in the markets.
But there are still many charts for both important stock market indices and large important companies, which indicate that there may be another sharp decline soon.
One of these charts is Microsoft (MSFT), and where it looks suspiciously like an ongoing establishment of a large head and shoulders formation.
Such large head and shoulders formations often appear at the end of a longer uptrend, and these formations are considered to be among the most reliable of all technical formations.
Now it is starting to look suspiciously like a large head and shoulders formation here in the chart for Microsoft (MSFT), and where now the other shoulder may be in the process of being established.
What will trigger a strong technical sell signal for Microsoft (MSFT) will be if there is an established break down below the 'neckline' and the support level around USD 385.00.
On the upside, there is now important technical resistance to watch for the Microsoft share around USD 420.00 - 430.00.
In any case, it is well worth following closely here, and one does not have to have a very good imagination to be able to see that this looks a lot like a large and clear head and shoulders formation during the establishment of the now last shoulder in the formation.
If there were to be such a strong technical sell signal from such a large head and shoulders formation for Microsoft (MSFT), then the formation here would indicate that the MSFT share could fall down to around USD 320.00 - 340.00.
NB! Remember to have read and understood the disclaimer.
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