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Abstract:MSFT has recently rebounded from the 359.71 support level with a strong bullish weekly candle, indicating an attempt to recover from the recent downtrend. The price is currently traded around 384.93,
MSFT has recently rebounded from the 359.71 support level with a strong bullish weekly candle, indicating an attempt to recover from the recent downtrend. The price is currently traded around 384.93, slightly below a key resistance level and moving averages, signaling a potential medium-term turning point.
Following several weeks of downward pressure, MSFT formed a bullish engulfing pattern last week, lifting the price from the critical 359.71 support zone. The price has managed to close above the short-term consolidation range and is now challenging the 50-week moving average, which still shows a bearish slope. This rebound may be interpreted as a technical correction rather than a confirmed reversal until further confirmation above the resistance.
The Bears Power (13) indicator is currently at -35.10, indicating that bearish momentum is still present but has slightly weakened compared to prior weeks. The volume has remained stable, which may suggest cautious optimism among traders as the price nears the 393.98 resistance zone.
Market Observation & Strategy Advice
1. Resistance Levels: 393.98 – Immediate resistance from previous swing high. 425.08 – Major resistance and historical high range.
2. Current Position: 384.93 – Key level to watch for a decisive breakout.
3. Support Level: 359.71 – Strong multi-week support.
4. Momentum Indicators: Bears Power: Still negative at -35.10, showing bearish control is weakening. Price is testing the declining 50-week MA, a critical dynamic resistance.
5. Strategy Advice:
Wait for a weekly close above 393.98 for confirmation of bullish reversal.
Buy on pullbacks toward 370–375 zone with tight stop below 359.
Bearish continuation if price fails to break above 393 and falls below 359 again.
Short-term traders may look for range-bound opportunities between 359–394 until breakout confirmation.
Market Performance:
Stocks Last Price % Change
TSLA 259.51 +3.50%
NFLX 1,096.87 +4.50%
Today's Key Economic Calendar:
UK: Retail Sales MoM
CA: Retail Sales MoM Final
US: Michigan Consumer Sentiment Final
Risk Disclaimer This report is for informational purposes only and does not constitute financial advice. Investments involve risks, and past performance does not guarantee future results. Consult your financial advisor for personalized investment strategies.
Disclaimer:
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