Microsoft Inc - Daily

Microsoft looks to have broken out of the short term downtrend channel.

From a technical aspect, Microsoft looks to have broken out of the 2-month short term downtrend and now looks as though it may test the longer-term resistance at $296. If the stock can break here, Microsoft could head back to the highs, but this could take time. Towards the downside, support sits at $271 followed by $265. If this level breaks then Microsoft could continue to fall a bit more. RSI currently reads 52.7 suggesting a neutral bias - thus it is likely that some consolidation will happen between $270 and $300 this year before a breakout to either the upside or downside.