Microsoft nears a pivotal resistance - Analysis - 31-05-2016

Microsoft's stock rose in the intraday levels, scoring a profit of 0.83% in the last session, or 0.43 points, with the stock nearing the pivotal resistance of 52.81, which represents the ratio 23.6% of Fibonacci retracement levels for an ascending wave in the medium term (from 39.72 to 56.85), coinciding with touching the resistance of the SMA for the last 50 days period, as relative power indicators reached extremely overbought levels. 

Therefore we expect the stock to fall in the coming trading, as long as the resistance of 52.81 holds on, targeting the support of 50.31, which represents the ratio 38.2% of the same retracement levels.