Bullish DailyPlay for Wednesday Dec 6th, 2017 – Microsoft (MSFT)
The bullish DailyPlay we chose for Wednesday Dec 6th is Microsoft (MSFT). MSFT is part of the Technology Sector (XLK). Over the last month, XLK has experienced a 1.54% move lower and its 1m trend has turned mildly bearish yesterday but recently bounced higher off $62 support level.
Microsoft’s 1m trend turned mildly bearish yesterday but recently bounced higher off its $80 support level and momentum indicators are oversold. With a technical score of 7 (out of 10), MSFT is a strong bullish stock that is likely to continue higher.
As a stop loss, if MSFT was to trade below $80 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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