Microsoft Makes New All-Time Highs After Earnings, More Upside Likely
| Oct 27, 2021 05:33AM ET
If we look at Microsoft's (NASDAQ:MSFT) monthly chart, we can see that the stock found support at $282 after its brief pullback at the end of September where it fell from the $300 price range.
Microsoft has climbed beyond $300 and made new all-time highs of $312. Its nearest support lies at $305, and the closest overhead resistance is at $312.
Microsoft announced its third-quarter earnings yesterday. The earning expectations were surpassed, and we witnessed a positive reaction, with the stock hitting new all-time highs.
h2 Intraday Outlook/h2Today we could expect a pattern continuation and another move above the $312 level extending its gains.
If, however, it doesn’t manage to hold the current level, then a move towards $305 could be possible.
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