Bullish Ascending Triangle in Microsoft

5 may 2020

Microsoft has been squeezing into a range with breakout potential.

Of all the big technology companies, it may emerge as the biggest beneficiary of coronavirus thanks to its cloud-computing, business software and videogaming.

Last week’s earnings report beat across the board, but MSFT didn’t move much because it’s been trapped in a bullish ascending triangle. And now it may be trying to break out of that pattern.

The triangle started taking shape in the first half of April. It became more clear after April 17, when MSFT hit resistance around $179. That’s near the close on February 21, immediately before the coronavirus correction began.