Microsoft Corporation (NASDAQ:MSFT) spiked up almost 3% at one point on Monday before running into a group of sellers who knocked the stock down about 1% from the high-of-day.
The tech giant and LSE also entered a new 10-year strategic partnership to build the latter’s data infrastructure using Microsoft Cloud.
The news caused Microsoft to open higher on Monday, breaking up from a falling channel pattern, which the stock attempted to do on Friday but failed.
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The Microsoft Chart: Microsoft started to fall into a descending channel pattern on Dec. 2, after topping out at the $256.12 mark the day prior. On Friday, the stock attempted to break up from the pattern, to form a possible reversal into an uptrend, but rejected and wicked from the $250 area, which dropped Microsoft back down into the channel.
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