Microsoft widens gains - Analysis - 18-01-2019

Microsoft's stock rose 0.70% in the last session, or 0.74 points, while settling above 108.09, representing the ratio 50% of Fibonacci retracement levels for a descending wave in the short term (from 116.18 to 93.99), with positive support from the 50-day SMA, while the RSI reached overbought levels. 

Therefore we expect more gains for the stock, targeting the next resistance at 107.70, which represents the ratio 61.8% of the same retracement levels, as long as it settles above 105.09. 

Expected trend for today: Bullish