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Microsoft Is About to Power Higher — Here's How to Trade It Now

Shares of Microsoft (MSFT) formed a bullish engulfing candle in Monday's session and appear to have successfully retested a long-term resistance-turned-support level. This combination of positive price action at a key technical level could trigger a powerful move higher.

The weekly chart shows the stock trading in a large horizontal channel for most of 2015, with resistance in the $47 area and support in the $38.50 area. It rallied off the August low that year and broke above channel resistance the following...