Microsoft Stock: The One That Got Away, or Has It?

Over the weekend I mentioned how on Valentine’s Day, I talked with Jon Erlichman of Bloomberg about what tradeable instrument I would date and which one I would marry.

He also asked me, to comment on which instrument I believed got away?

To refresh memories, I am dating -up over 12% to start the week.

I married , up nearly 3% on Monday.

But the one that got away?

Microsoft (NASDAQ:) has been consolidating between $400-$420 since Valentine’s Day.

Does that mean I still have a chance?

The simple answer is yes.

Since the highs were put into place on February 9th at around $420, MSFT has traded narrowly.

Plus, it remains above the January 6-month calendar range high at around 395.

What we will watch for is when MSFT starts to outperform the benchmark and when momentum clears the February 14th or V-day level.

These tools should correspond to a breakout over the trading range and help us determine a good risk point.

We believe MSFT can head up to $485, especially as we are huge fans of Co-Pilot, MSFT’s latest AI software.

ETF Summary

• S&P 500 (SPY) 510 now pivotal
• Russell 2000 (IWM) 212 next major resistance and 205 support
• Dow (DIA) 385 support 400 resistance
• Nasdaq (QQQ) New highs today yet made with a whimper
• Regional banks (KRE) 45-50 range
• Semiconductors (SMH) Sister Parabolic-watch those gaps to hold/fail
• Transportation (IYT New all-time high now 280 support
• Biotechnology (IBB) Looking at 140-142 next levels to clear
• Retail (XRT) 75.50 support
• iShares iBoxx Hi Yd Cor Bond ETF (HYG) 77 big number to hold (still)