Unlike AAPL, Microsoft’s weakness cannot be attributed to unforced errors, or even to the prospect of recession. The stock has simply leveled off after a spectacular run-up in the first half of 2024. There isn’t much to support it just below, however, and that’s why it could fall hard if just one engine sputters out. I’d be inclined to try bottom-fishing at 393.19, an interesting voodoo number, in any case, but with a very tight stop loss created with a small ‘reverse pattern’. If this magic level were to give way, the next stop would likely be around 375, where a cluster of obscure supports lies.
MSFT – Microsoft (Last:409.76)
