MSFT - Update

Microsoft (MSFT) reached both $286.50 (last Monday) and $273 (last Tuesday) support, as forewarned in 7 March’s weekly commentary. Going forward, with price action showing lower lows and lower highs, there is a possibility of trend continuation towards the $273, with another new support at $263.63. On the other hand, if EMA10-EMA20 forms a golden cross, MSFT could have a relief rally with resistance at $303 and $315.