Bob Lang, of ExplosiveOptions.net, takes a technical look at this tech stock that many traders consider “old.” However, as Bob also points out, “sometimes boring is profitable and a worthwhile investment.”
Microsoft (MSFT) is one of those old tech names that many traders consider boring. Well, sometimes boring is profitable and a worthwhile investment. The stock is up strong for 2015 and it even reached a multi-year high a week ago. Volume trends are strong as institutions accumulate the stock and relative strength is impressive (the stock pulls higher when the market is weak).
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What is most impressive about Microsoft is the fact it is basing at a high level, often a sign that the next move will be upward. The MACD is about to flash another buy signal and this bodes well for a strong stock performance in 2016.
Microsoft (MSFT) Video Chart Analysis
Take a deeper dive into the chart action on Nasdaq: MSFT and learn how to read the technicals and analysis as Bob Lang marks up the chart of the week.
By Bob Lang of ExplosiveOptions.net
