Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Microsoft Stock Price (NASDAQ: MSFT) fell 3.28% in the after-hours trading session.</a> </li> 
 <li> <span>2</span> <a>MSFT stock price sustained above the 50-day and 200-day EMA showcasing uptrend.</a> </li> 
 <li> <span>3</span> <a>Microsoft Corp beats the EPS estimates by 5.46% and revenue estimates by 1.27%.</a> </li> 
</ul> 
<p>Microsoft stock price (NASDAQ: MSFT) was down 3.28% in after hour trading session. It reacted negatively despite beating the quarterly earning estimates. MSFT stock is reversing after hitting the 52-week high at $366.78.&nbsp;</p> 
<p>Microsoft shares witnessed profit booking and a sudden rise in selling volume is also visible indicating mild bearishness. However, the price is near to the 50-day EMA which is likely to act as immediate support for the bulls.</p> 
<p>MSFT stock is sustaining above the 50-day and 200-day EMA showcases the trend is in an upward direction. Therefore, any short-term correction is likely to get absorbed by the buyers near the support levels.&nbsp;</p> 
<p>At the end of April, Microsoft’s s<a href="https://www.thecoinrepublic.com/2023/06/30/will-love-of-ai-push-microsoft-stock-push-it-to-a-new-high/" rel="noopener noreferrer nofollow">tock price</a> breakout of the $293.00 hurdle level which triggers positive sentiment. Later, prices began to rise upward by forming higher highs recovering the losses of the past two years.&nbsp;</p> 
<p>In the previous quarter’s earnings, stock prices reacted positively and rewarded the short-term bullish traders. The investors expect a similar kind of pattern after current quarter earnings but prices are overstretched. So, the possibility of short-term correction is high.</p> 
<h2 class="wp-block-heading" id="strong-will-microsoft-stock-bounce-back-from-the-support-strong"><strong>Will Microsoft Stock bounce back from the support?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/XFezzyA4GV1pJghKJAo0Er3P1PNiwWKi55beQOzOJkanXBCjzpjlF5q-ex31H-QYNT-cxkpTn9GXxlPArp57Pmizz19DSX-gQDWsqVy8udfA-dvn6VDBKOcHXEx0LDNMcXmvtvXI0kpjaEaITH7Rpw" alt=""> 
  <figcaption class="wp-element-caption">
    NASDAQ: MSFT daily chart by <a href="https://www.tradingview.com/x/mFdGiFYP/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>Microsoft stock price performed well in the past few months due to the craze of ChatGPT and <a href="https://www.thecoinrepublic.com/2023/06/30/will-love-of-ai-push-microsoft-stock-push-it-to-a-new-high/" target="_blank" rel="noopener noreferrer nofollow">Artificial Intelligence.</a> The broader market indices Nasdaq composite has also performed well which positively impacts the market sentiment.&nbsp;</p> 
<p>MSFT stock price is in a strong uptrend so the possibility of big downside remains low. As per the price analysis, $322 is likely to act as strong support.&nbsp;</p> 
<p>Till the time <a href="https://www.thecoinrepublic.com/2023/06/30/will-love-of-ai-push-microsoft-stock-push-it-to-a-new-high/" target="_blank" rel="noopener noreferrer nofollow">Microsoft</a> stock sustains above $322 the probability of bounce back will remain high. However, if the price drops below $322.00 then the short-term trend will reverse downward.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-msft-stock-price-analysis-on-the-weekly-time-frame-strong"><strong>MSFT Stock Price Analysis on the weekly time frame</strong></h3> 
<p>MSFT Stock Price formed a shooting star bearish candle on the weekly time frame. It shows signs of a bearish trend reversal but the confirmation will come when prices drop $322.00 support.&nbsp;</p> 
<p>The MACD curve generated a negative crossover and the histogram is declining. It indicates bearishness and 4% to 5% more downside is possible. The RSI at 50 enters neutral territory.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Microsoft stock price (NASDAQ: MSFT) is down 3.28% and likely to test the 50-day EMA. The technical analysis suggests short-term MSFT stock might take a halt near $322.00 support.</p> 
<h5 class="wp-block-heading"><strong>Technical levels</strong></h5> 
<ul> 
 <li>Resistance levels: $350.00 and $366.00</li> 
 <li>Support levels: $322.00 and $300.00</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Microsoft Stock: MSFT Stock prepares for a short-term correction

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