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5 Big Stock Charts You Need to See


Microsoft (MSFT - Get Report) is another name that's been showing traders a big technical setup in the past couple of months; I talked about it last week, but the latest developments in this stock warrant a second look. Despite the fact that shares of the $234 billion software firm have fallen more than 10% in the last four months, it looks primed for a reversal.

That's because after consolidating sideways for the last quarter, MSFT is finally breaking out above its nearest horizontal resistance level at $28. That breakout indicates that buyers have finally mustered enough wherewithal to take out any excess supply of shares above that $28 price. That's a buy signal.

This week's breakout also coincides with a move above the long-term downtrend resistance level that's connected Microsoft's swing highs since the summer. With a downtrend over and a reversal in play right now, it could be a worse time to buy MSFT. If you decide to jump in here, I'd recommend keeping a protective stop at the 50-day moving average.
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HBC $0.00 0.00%
EL $97.12 0.99%
MSFT $49.90 -2.04%
WMT $68.92 -0.72%
VSI $27.80 -10.00%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

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