Microsoft Corp’s stock price (MSFT) rose mildly in the intraday levels after the support of $406.30 held on, as the stock tries to recoup some recent losses, while trying to vent off oversold saturation in the RSI, with negative pressure due to trading below the 50-day SMA, as the stock is hurt by piercing the upward secondary short-term trend line. 

 

Therefore we expect the price to return lower, provided the aforementioned support of $406.30 held on, thus targeting the next pivotal support at $398.17.

 

Trend forecast for today: Likely Bearish