Shares of Microsoft Corp. (MSFT) continue to power higher. Let's check the charts and indicators to what price targets lie ahead and what risk levels we need to be aware of in the weeks ahead.
We reviewed the charts of MSFT on June 25 and wrote that "In this Point and Figure chart of MSFT, below, we used weekly price data. All the daily charts of MSFT showed that prices had reached their price objective of around $201. In this chart a potential target of $271 is indicated."
In this daily bar chart of MSFT, below, we can see that prices have continued higher. Prices remain above the rising moving average lines we favor -- 50 days and 200 days.
The On-Balance-Volume (OBV) line continues higher and confirms the price gains. The Moving Average Convergence Divergence (MACD) oscillator is still in a bullish alignment and rising.