Sunday, June 29, 2008

MSFT Update for 06.29.2008


Monthly chart shows the stock has been in consolidation since December 2000. This consolidation pattern suggests, at the very least, a re-test of the 2000 low at the $18 level. Definitely no buy signal/pattern evident on this timeframe.

Weekly chart shows price below all key moving averages as well as the down trendline in place. The stock remains stuck in a smaller trading range, which will end with lower lows. Still a lot of weakness evident on the chart, with no buy signal/pattern evident on this timeframe.

Daily chart better shows the smaller consolidation pattern in play. The bears gapped down the stock down through the 200sma on April 25, 2008, and the bulls have not been successful in taking the price back up the past two months. Look for continued weakness and lower still.

No comments: