Microsoft MSFT broke yesterday bearish out of its Rising Wedge like pattern. Volume has been declining and RSI showing divergence (RSI peaks have been declining while share price has been rising) i.e., indicating a looming correction.
Support at around 312.30. but if sell-off hits hard MSFT could drop to around 300 which is also the 0.618 retracement of the rising wedge.
For the correction scenario to be demolished and share price to continue higher a close above 33.50 is needed
Weekly chart is interesting. MSFT seems to be forming an Evening Doji Star pattern (circled).
That pattern is a strong top and reversal signal. The week has not yet ended so the pattern can still become busted. But that requires a close Friday higher than 335.
Weekly RSI is still bullish with no divergence suggesting MSFT could trade higher after a likely correction.