Mish’s Daily: The One That Got Away, Or Has It? Microsoft

6 months ago 330 views 5 min read

Michele “Mish” Schneider

Director of Trading and Education

MarketGauge.com

Mish’s Daily: The One That Got Away, Or Has It? Microsoft

Written by Michele ‘Mish’ Schneider

Over the weekend I mentioned how on Valentine’s Day, I talked with Jon Erlichman of Bloomberg about what tradeable instrument I would date and which one I would marry.

He also asked me, to comment on which instrument I believed got away?

To refresh memories, I am dating COIN-up over 12% to start the week.

I married silver, up nearly 3% on Monday.

But the one that got away?

Microsoft has been consolidating between $400-$420 since Valentine’s Day.

Does that mean I still have a chance?

The simple answer is yes.

Since the highs were put into place on February 9^th at around $420, MSFT has traded narrowly.

Plus, it remains above the January 6-month calendar range high at around 395.

What we will watch for is when MSFT starts to outperform the benchmark and when momentum clears the February 14^th or V-day level.

These tools should correspond to a breakout over the trading range and help us determine a good risk point. We believe MSFT can head up to $485, especially as we are huge fans of Co-Pilot, MSFT’s latest AI software.

For more detailed trading information about our blended models, tools, and trader education courses, contact Rob Quinn, our Chief Strategy Consultant, to learn more.

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