Microsoft Corp (MSFT) broke nicely out of its falling wedge pattern yesterday at (1) after a healthy pullback which started at the beginning of this month. Earnings have grown 27.5% per year over the past 5 years and are forecast to grow 10.81% per year over the next 3 years. MSFT has experienced significant insider selling over the past 3 months totalling 171,025 shares (approx. $36.3M) which may not be cause for alarm, as the reasons for this are not clear.
The broad outlook is still bullish for MSFT, and we should see prices advance going forward for the medium term, providing we hold above the 100 DMA. Overhead resistance comes in at 21057.6 followed by 21291.5 for short term profit-taking.
The broad outlook is still bullish for MSFT, and we should see prices advance going forward for the medium term, providing we hold above the 100 DMA. Overhead resistance comes in at 21057.6 followed by 21291.5 for short term profit-taking.
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