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Microsoft Leads Tech into 2016
12/31/2015 7:00 am EST
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).
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
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