Economies.com provides the latest technical analysis and forecast of the american stocks, in order to keep track of the trend of the US stocks.
Microsoft's stock surged in the intraday levels, recording a big profit of 3.12% in the last session, or 1.56 points, after the stock leaned on the pivotal support of 50.33, representing the ratio 38.2% of Fibonacci retracement levels for an ascending wave in the medium term (from 39.72 to 56.85), lending it positive momentum that helped it rise, with ongoing negative pressure from the SMA for the last 50 days period.
Therefore we expect the stock to return lower in the coming trading, as long as the resistance of 52.82 holds on, targeting the support of 50.33, which represents the ratio 38.2% of the same retracement levels.