Microsoft Breaks Higher But Runs Into Resistance: Why The Stock Is In Need Of Consolidation
Portfolio Pulse from Melanie Schaffer
Microsoft Corporation (NASDAQ:MSFT) gapped up to start Tuesday’s trading session but ran into resistance, indicating a need for consolidation. The stock has been in a consistent uptrend since Jan. 6, with higher highs and higher lows. However, its relative strength index (RSI) has reached 74%, suggesting it may be overbought.
May 30, 2023 | 3:23 pm
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Microsoft's stock faces resistance, indicating a need for consolidation. The stock has been in a consistent uptrend, but its RSI suggests it may be overbought.
Microsoft's stock has been in a consistent uptrend, but it has run into resistance, indicating a need for consolidation. The stock's RSI has reached 74%, suggesting it may be overbought, which can be a sell signal for technical traders. This could lead to a short-term neutral impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100