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Microsoft Hits Macro Resistance — Here's How to Trade It Now

Microsoft (MSFT) reported earnings this week, and shares gapped higher and right into long-term technical resistance. The integrity of this level will help determine the direction of the stock price going forward.

A large horizontal channel pattern formed on the weekly chart in 2015, and a breakout from this pattern projected an $8 move. The breakout occurred later that year, and the stock rapidly met the target projection. It began trading in a second channel, with the $56 level acting as resistance and the resistance...


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