Microsoft In Danger Of Breaching Major Support Level

Microsoft

shares are trading lower by $0.32 at $40.40 in Thursday's session. The issue has been under constant selling pressure since it came in with inline earnings and slightly better revenue for Q4 earnings ($0.71 vs. $0.71) and ($26.47B vs. $26.33B). Microsoft suffered one of worst days in year following the release on January 26, cascading from it closing price of $47.01 all the down to $42.66. Three days later it posted a close another $2.00 lower at $40.40, which represents the lowest close June 4 ($40.32). After bottoming on February 2 ($40.23), Microsoft rebounded above $44.00. However, a putting in a series of high at that level, it has fallen back to the lower end of the trading range. In Wednesday's session it bottomed at $40.31 and is attempting to distance itself from this major support level, but has not been able to. At this time, it has bottomed at $40.37, but has not been able to distance itself from this major support level.