Microsoft Continues Journey Down ....
Microsoft shares (MSFT) continued its way down today as I have expected yesterday. However, I would only say that it is doing a slow climb down instead of a jump down the cliff. Being an important bellwether stock, it is not strange to see a quick dose of accumulation from bargin hunters, lifting the stock off its intraday lows.
After 4 days walk to downside, the MSFT is now showing a short term oversold condition along with declining volume. However, downside momentum continue to be strong as indicated by short term MACD and all other relative strength indicators.
My sentiment on MSFT continue to be bearish and looking to a testing of the 200 days MA until the indicators and chart actions speak otherwise. As a trend following technical option swing trader, I always place what I can see now first and then keep my eyes peered on the earliest indications of change.
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After 4 days walk to downside, the MSFT is now showing a short term oversold condition along with declining volume. However, downside momentum continue to be strong as indicated by short term MACD and all other relative strength indicators.
My sentiment on MSFT continue to be bearish and looking to a testing of the 200 days MA until the indicators and chart actions speak otherwise. As a trend following technical option swing trader, I always place what I can see now first and then keep my eyes peered on the earliest indications of change.
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Labels: microsoft, MSFT, msn, msn window, vista, window, window vista
posted by Jason Ng at 8:23 PM
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