Microsoft FINALLY coming to a Key Support Zone Amid a Strong Uptrend

Binni Ong
04-02

Technical Analysis on $Microsoft(MSFT)$ :

  • Current price: $379.35; weekly high: $383.00; weekly low: $367.24.

  • Strong uptrend supported by an upward-sloping trend line.

  • Price is consolidating near a key support zone (historical resistance turned support).

  • Consolidation suggests potential for rebound if bullish signals emerge.

  • Monitor this area for signs of trend continuation.

Why previous resistance turned support is a notable level to watch?

When a previous resistance turns into support, it indicates a shift in market sentiment where buyers overpower sellers at that level. It reinforces the strength of the uptrend and provides a reliable entry or risk management point for traders. This transition is a key signal for trend continuation.

Short-term trading with DLCs

When considering Long DLC $MSFT 3xLongSG261006(USGW.SI)$ for MSFT:

  • MSFT's price is currently consolidating near $367.24–$379.35, a potential support zone in an ongoing uptrend.

  • If the price moves above $383.00, this could suggest bullish momentum that aligns with continuation of the uptrend.

When considering Short DLC $MSFT 3xShortSG261006(USHW.SI)$ for MSFT:

  • A break below the $367.24 level might indicate bearish sentiment or a possible trend reversal.

  • Such a move could align with expectations of further downward price movement, depending on sell volume and broader market conditions.

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Disclaimer: 

This document is not an offer or solicitation to buy or sell, nor financial advice or recommendation for any investment product. This document has been published for general circulation only. 

This advertisement has not been reviewed by the Monetary Authority of Singapore. This post is sponsored by Societe Generale, Singapore Branch. The content of this article does not form part of any offer or invitation to buy or sell any daily leverage certificates (the “DLCs”), and nothing herein should be considered as financial advice or recommendation. The price may rise and fall in value rapidly and holders may lose all of their investment. Any past performance is not indicative of future performance. Investments in DLCs carry significant risks, please see dlc.socgen.com for further information and relevant risks. The DLCs are for specified investment products (SIP) qualified investors only.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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