HomeMarket NewsEmbracing the Summit: Microsoft's Ascension Towards Record Highs Amidst Federal Reserve Anticipation

Embracing the Summit: Microsoft’s Ascension Towards Record Highs Amidst Federal Reserve Anticipation

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A Beacon in the Market

Microsoft Corporation MSFT displayed a slight upward trajectory on Wednesday, hinting at a return to the illustrious high of $427.82 achieved on March 14.

Recently, Microsoft emerged as the preferred choice amongst investors when asked to select a stock for a three-decade hold on the r/investing subreddit. Redditors lauded Microsoft’s wide-ranging dominance across industries, unwavering innovation, stability, and promising growth potential as key reasons for their prolonged commitment to the stock.

The fate of Microsoft’s flight to success in the ensuing days hinges on the post-2 p.m. market response following the Federal Reserve’s release of the March policy statement today.

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Charting Microsoft’s Journey: Microsoft embarked on its recent uptrend on March 6, solidifying it on March 14 with a higher high. Prior to this, Microsoft meandered horizontally until March 11, hinting at a nascent uptrend within that pattern by carving a higher low at $401.26.

  • Today, Microsoft aims to etch a doji candlestick, potentially signaling the peak. A bearish reaction to the Fed’s announcement might nullify the uptrend, birthing a new downturn.
  • The bulls’ yearning for Microsoft to ride a bullish wave post the event is palpable. An ascent above the March 14 high-of-the-day would retain the uptrend, eliminating any historical price resistance for Microsoft.
  • At present, Microsoft confronts resistance at $427.82 and the psychologically significant $430 level, with support entrenched at $412.65 and $398.01.

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