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Microsoft: Here's The Trade

Published 10/30/2018, 12:47 PM

Microsoft (NASDAQ:MSFT) has been one of the leading tech stocks in 2018. Since the market correction began, this tech giant has come under severe selling pressure. The stock peaked on October 3 at $116.18 a share. Since that high pivot, MSFT has declined down to the $102.20 level where it was trading on Tuesday. It should be noted that Microsoft is still trading above its important 200-day moving average, which is at $100.68. If the stock closes below this key moving average then it will signal more weakness in the near term and further downside for the shares.

Watch This Support

The next major support level for the stock is around $95. That's where the stock was able to break-out of a choppy base in late May 2018. Often, the institutional money will defend a stock when it back-tests a prior break-out area. Keep this level on your radar for a long-side trade.

Microsoft Corp.

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