MSFT Update for 07.19.2008

MICROSOFT CORP. - MSFT

Monthly chart shows continued weakness and selling by bears. Price is below all key moving averages and also below key LIS of $28. Short term support is currently right off the .786 fib level. No buy signal/pattern evident on this timeframe.

Weekly chart shows price below all key moving averages and also below the down trendline in place. No buy signal/pattern evident on this timeframe.

Daily chart shows traders' disappointment in the company's earnings report, and gapped down the open of Friday's trading session. As price fell down towards the current low, there were aggressive buyers willing to buy the stock, and soon retraced more than 50% of the down move. Currently there is no buy signal/pattern evident on this timeframe. Look to next week's trading activity to see if we get a buy signal/pattern or not.