Tomorrow after the market close, Microsoft is scheduled to release its 22Q2 earnings report. With all the recent volatility in the market, this event has the potential to further pressure the stock price.
Microsoft (MSFT) is well known for its ‘Microsoft 365‘ suite of apps, which serves it well since its July 2017 release.
However, ‘Microsoft 356‘ supports the stock price starting a year earlier- since June 2016.
‘Microsoft 356’ is a paraphrase that refers to the 356 day SMA line that the stock price respects for a very long time now- 5.5 years. Here’s the daily chart of MSFT:
As of today, MSFT’s share price is $296 and the rising 356 day SMA line is at $261.73.
The 361 day SMA line is similar to the aforementioned, with the only difference that this line supports the wicks of the bars/candles while the 356 day SMA supports the body (open/close) of the bars/candles.
Let’s keep tracking this beautiful chart and wait to see whether MSFT keeps respecting these MA lines.