Microsoft amid negative outlook - Analysis - 24-05-2016

Microsoft's stock returned lower in the intraday levels, registering a loss of 1.17% in the last session, or 0.59 points, after the stock settled below 50.33, which represents the ratio 38.2% of Fibonacci retracement levels for an ascending wave in the medium term (from 39.72 to 56.85), while still trading below the SMA for the last 50 days period, doubling the negative pressures on the coming trading, especially with an influx of negative signals from relative power indicators. 

Therefore we expect more losses to come for the stock, targeting the support of 48.31, which represents the ratio 50% of the same retracement levels.