What's Wrong With Microsoft? 📉 The Chart Report
Chart of the Day
🏆 Today's Chart of the Day was shared by Connor Bates.
Microsoft closed at a new 52-week low and has retraced back to its major long-term polarity level near $350.
The stock has formed what appears to be a deformed right shoulder within a head-and-shoulders top while on track for its worst month since December 2000.
Microsoft has already completed a multi-year top relative to the S&P 500, and a breakdown in absolute terms would be noteworthy, especially in the middle of a bull market.
The Takeaway: The world's largest software company is testing a critical level.
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