Saturday, February 02, 2008

Microsoft Update for 02.02.2008


I last commented on Microsoft in the beginning January, where I noted that the stock was weak, and that I would be looking for a downside target in the $27 - $28 area.

Monthly chart shows continued weakness, and getting pretty close to my first downside target.

Weekly chart shows major selling pressure last week, despite Microsoft's bid to buy Yahoo.

Daily chart shows Friday's trading activity closed near the low for the day, and below the 200sma. Pattern that I identified is on track for further weakness.

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