MSFT Follows Our Bullish Near-Term Technical Script
by Mike Paulenoff
January 15, 2024 • 2:01 PM EST
On Wednesday, January 10, 2024, right at the opening bell, this is what we discussed about my near-term technical setup in MSFT (Microsoft):
MSFT is about to emerge from a bullish 6-week high-level digestion period after hitting its 11/29/23 ATH at 385.50. MSFT needs to climb and sustain above 377.20/70 to trigger upside continuation that points to a retest and hurdle of 385.50, and then to 395-400 thereafter. Only a sudden sharp downside reversal that presses MSFT beneath 6-week support from 366.00 to 362.50 will wreck the setup. Last is 377.23...
Fast-forward to the price action in MSFT during the subsequent two trading days at the end of last week, we see that indeed, the stock took off to the upside upon taking out resistance at 377.20/70 and proceeded to thrust directly to a new all-time high at 390.68 the very next day (1/11/24). MSFT closed Friday at 388.47, a full 3% above my heads-up to MPTrader members on Wednesday morning.
What is the most likely price path and the growing risks for MSFT, especially with earnings approaching on 1/25/24? Join Mike and MPTrader members for their continuing discussions about the direction and risks concerning MSFT in the days leading up to earnings, as well as about other names and ETFs impacted by upcoming earnings reports, macro indices, commodities, and Bitcoin...
Mike Paulenoff is the author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on
ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international
markets, plus key ETF component stocks in sectors like technology, mining, and banking.
Sign up for a Free 7-day Trial!
More Top Calls From Mike
Many of you have been members of MPTrader for years, perhaps decades (I have been providing MPTrader.com analysis since February 2003!). Rarely do I take a victory lap about my stock, ETF, and market calls, largely because I have always thought my work should speak for itself, which obviates the need to bloviate and beat my chest to stroke my ego. At my core, I am a market nerd and Geek, not a slick-talking marketer (for better or worse).
Back on November 12, 2024, fellow MPTrader member "Rayray" wrote the following when ARCH (Archer Aviation) was trading at $4.83:Mike, as you may recall I have been an active follower of ACHR. I no longer have a position that I trade off of and am on the sidelines watching a move that I should have participated in . That said, is this the move to $9.00 that has been on the table for a while ?... My analysis: NO!...
On the morning of Tuesday, November 12, 2024, I posted the following Heads-Up to MPTrader members concerning my DIS (Disney) analysis ahead of earnings:DIS (Disney) reports earnings on Thursday morning. Technically, DIS approaches Earnings in strong near-term technical condition that argues for a positive reaction to earnings. As long as any forthcoming weakness is contained above 94.80, DIS points higher to 105.10/40, and if taken out, then to 113-115... Last is 100.25...
On September 20, 2024, fellow MPTrader member Bloom asked Mike Paulenoff to look at his chart setup in Upstart Holdings (UPST). This is what they discussed in Mike's post to our Discussion Room in its entirety:UPST (Upstart Holdings)... It is NO coincidence that when the Fed initiated its rate HIKE cycle in March 2022, it coincided with the steep, contractionary, prolonged bear phase in cloud-based AI lender UPST.
Each Earnings Season (one is in progress as we speak), I analyze my technical setups on individual stocks to see if they provide enough evidence to issue a "highly confident" directional call to MPtrader members. In other words, what is my chart work telling me about the likelihood of a bullish or bearish investor reaction to Earnings?Suppose I apply the same approach to Tuesday's presidential election.