Don't Ignore This Chart!

Microsoft firms near the gap zone

After a sharp (~10%) decline this year, Microsoft (MSFT) is nearing its first support zone around 27-28. Support here stems from the October gap and the 38% retracement. MSFT firmed around 28 over last four days and yesterday's range was the narrowest of the last six days.

100211msft Click this chart for details
Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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