MSFT, GS: Bull Flags in Blue Chips?Some major stocks have done little as the broader market hits new highs. Today’s idea considers two members of the Dow Jones Industrial Average where some traders may see potential upside signals: Microsoft NASDAQ:MSFT and Goldman Sachs NYSE:GS .
The first pattern on both is the tight pullbacks after rallies. Those may be viewed as bull-flag continuation patterns.
Next, both are trying to hold above recent weekly highs. Is old resistance becoming new support?
Third, rising MACD on each chart could indicate bullishness in the short term. They’re also above their rising 21-day exponential moving averages.
Finally, inside days this week may suggest that near-term weakness is fading as a new month and quarter approach.
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