Much was made of how much the stocks in the “Magnificent 7” carried the market the first part of the year.
And lately much has been made about how badly that group has performed.
But that doesn’t necessarily apply to all the Magnificent members.
Microsoft (MSFT) was one of those 7, and, yes, it definitely didn’t do well in August and September.
However, it’s looking very bullish now.
It’s bounced off of our 30-week simple moving average and appears to be storming toward a new breakout.
If it moves above $366.78, we could see another big run from this Magnificent 7 stalwart.
We’ll keep an eye on it.
— Scott Welsh
P.S. As a reminder, these plays are based on my longer-term Weinstein Stage Analysis method. The chart above uses weekly candles and a 30 week simple moving average. For details on this method, see my explanation on this Ask The Pros episode starting at timestamp 20:45.