MSFT earnings watchNASDAQ:MSFT had a balanced week in anticipation of earnings. The software giant has been consolidating in a range between the monthly 281.92 level and the weekly 292.35 level. We can essentially play this range until it breaks in either direction. NASDAQ:MSFT is set to report earnings after market closes on tuesday.
Technical Analysis: NASDAQ:MSFT is consolidating in this range inside of a larger rising wedge (red & green). NASDAQ:MSFT is also approaching a daily gap fill 294.22-296.14. NASDAQ:MSFT is also approaching a short GP (This is measured from its all time high to its 2022 low). The 61.8% retrace is at 297.63, so we can watch this level as a key resistance, with 300 as a strong psychological level.
If NASDAQ:MSFT can break above the uptrend line (red) and clear the gap above, we can test the upside gap above (307-309.87).
If NASDAQ:MSFT invalidates the bear flag under the 281.92 monthly level, we could see NASDAQ:MSFT test the 281.55 monthly level, and the gap below of 278.41-276.14.
Upside Targets: 286.36 → 289.43 → 292.35 → 294.22 → 296.14 → 297.63
Downside Targets: 284.10 → 281.92 → 2280.10 → 278.73 → 277.52 → 276.05