Microsoft tries to gather positive momentum - Analysis - 07-12-2022

Microsoft's stock (MSFT) slid in the intraday levels while trading alongside the downward short-term trend line, with negative signals from the RSI, after reaching overbought levels, while gathering positive momentum to rise anew, amid the dominance of the upward correctional short-term wave, with support from the 50-day SMA.

Therefore we expect the stock to return higher, targeting the resistance of 267.45, provided the support of 241.53 holds on.

Expected trend for today: Bullish