Is Fortnite Helping out MSFT?. (October 15, 2019)
Let’s take a look at Microsoft ( NASDAQ: MSFT ). The reason that I want to look at Microsoft ( NASDAQ: MSFT ) is, no, not because the new version of Fortnite just came out, I’m sure your kids are really excited about the new version of Fortnite, but because Microsoft ( NASDAQ: MSFT) is one of those stocks that I have been watching for a while but it really hasn’t given me a clean entry, we may get one here soon.
As you can see here on the chart Microsoft ( NASDAQ: MSFT ) is continually putting in higher lows. When the stock comes down, finds support, the stock comes down, finds support. Higher lows, higher lows, higher lows; we pull back even more, that dip gets bought and then we continue to just kind of grind around these moving averages here. The red line is the 50-day moving average. The green line is the 20-day moving average and the orange line is the 8 exponential period moving average. As you can see the stock has just kind of been grinding around here. Today we pushed up close to resistance and did it on decent volume.
What I want to see here from Microsoft ( NASDAQ: MSFT ) is a push above 142.00 on volume. We could get a little bit of an earnings run, earnings are coming up here in just about a week or so, so that is one thing to look for. I hope this trade works out; watch for a break above 142.00 on Microsoft ( NASDAQ: MSFT ) tomorrow.
Free Chart