The unfortunate death of Paul Allen prompts a look at $MSFT. Allen’s $MSFT has enjoyed a smooth ride on a bullish flow this year reaching an all-time high in the stock market. The bullish movement brought about multiple higher lows in price movement. Companies like Apple and Amazon have had a good year so far for long-term investors. Price of $MSFT has reached overbought positions twice this year on the weekly chart. Instead of a change of trend downwards, price continued higher to the 116.00 level before a downward trend began. This move couldn’t break the support level. Price rallied off the support level.
A bullish breakout occurred from the trendlines, which might be a good opportunity to buy $MSFT. RSI has not showed an oversold position on the weekly chart. Ever since price broke out the 105.12 level, price has never gone below this level. The future of Ichimoku also shows a bullish future. The bullish trend is expected to continue.
Source: Microsoft Co-Founder Paul Allen Dies of Cancer At Age 65(CNBC)