AAL

Microsoft Stock Pullback Posing Potential Entry Point

The stock hit record highs earlier this month

Deputy Editor
Jul 18, 2024 at 2:53 PM
facebook X logo linkedin


Microsoft Corp (NASDAQ:MSFT) stock staged a pullback after its recent July 5 record high of $468.35, currently headed for its seventh daily loss in the last nine trading sessions. At last glance today, the stock was down 1.5% at $136.75, though still up 16.5% year to date, as investors continue to rotate away from Big Tech this week. 

Former pressure at the $130 level could keep losses in check, however. Plus, the negative price action has Microsoft stock within one standard deviation of its 50-day moving average, after trading north of this trendline 80% of the time in the past two months, and in eight of the past 10 trading days.

MSFT has flashed six similar signals over the past three years, after which the stock was higher one month later 67% of the time, averaging a 4.9% gain. It's also worth noting that five days after each signal, the stock was higher 100% of the time. 

MSFT July 18

 

 

Same-Day Trading Power: +227% YTD and Counting  — Get in for $10!

We're celebrating 44 years of helping traders win, and you can now tap into one of our most explosive services — Dynamite Day Trading Signals — for just $10.

This service was built for one thing: capturing intraday gains with precision. 

Access two highly-vetted options trades each week -  Complete with defined entries, exits, and a clear plan for same-day profits.

👉 Click Here to Learn More and Position Yourself to Take Action When the Next Alert Hits.