BZ Chart Of The Day: Is The Microsoft Selloff About To End?

They say that markets have memories. If it’s true, there’s a chance the selloff in Microsoft Corporation MSFT may be about to end or at lease pause.

Market memory refers to how levels that are support or resistance can stay intact and retain their importance for a period of time.

As you can see on the following chart, in May of 2021 the $240 level was support for shares of MSFT. When it fell to this level, buyers put a floor under it and a rally followed.

If the market "remembers" this, there’s a good chance that the same thing happens once again.

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