Chart of the Day: Tight Price Action in Microsoft

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Microsoft has paused this month as the Nasdaq-100 climbs to new highs. However, some chart watchers could look for the software giant to come off the sidelines.

The first pattern on today’s chart is the December 1 close of $374.51, which became resistance. A daily close above this level may …

For more, please click here to view the related idea and chart analysis on TradingView.

Microsoft (MSFT), daily chart, with selected patterns and indicators, courtesy of TradingView.
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David Russell is Global Head of Market Strategy at TradeStation. Drawing on nearly two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them appraised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.