Microsoft Corp. (NASDAQ:MSFT) shares are trading higher Wednesday in the wake of the tech giant's first-quarter results.  

Total company revenue rose almost 22% year-over-year and amounted to $45.32 billion.

Microsoft was up 4.04% at $322.62 at last check.

Microsoft Daily Chart Analysis

See Also: Productibity Is Paying Off For Microsoft

What’s Next For Microsoft?

Bullish traders would like to see the stock continue to break out past the pattern. Eventually the stock will cool off, and then bulls are looking for it to have a period of consolidation. If the stock can hold some gains while consolidating, it may be ready to push higher in the future once again.

Bearish traders are looking to see the stock fall back below the $305 level and hold it as resistance. Bears are then looking to see the stock fall below the higher low trendline. If the price cannot get back above these levels after falling below them, the stock may be ready for a strong bearish move.