Solid News

Microsoft Corp. Market Update

8/15/2022 3:44 PM

The shares of Microsoft Corp., the global giant in the development and sale of operating systems and software for computers, are moving in a corrective trend around 291.00. The trading instrument is trying to consolidate in an uptrend, but this movement is more likely to follow the general market trend than the asset's dynamics.

At the end of July, the company released its Q4 report, which was the most disappointing in recent times: for the first time since 2017, quarterly revenue was worse than expected, amounting to 51.87B dollars against 52.38B dollars, and earnings per share also failed to live up to expectations and instead of 2.29 dollars it reached only 2.23 dollars.

Also, the corporation canceled contracts with many third-party contractors, leading to massive layoffs among freelancers: deals expired on August 12 and will not be renewed. Also, it became known about the upcoming reductions among full-time employees: by the end of the year, 1.8K people may lose their jobs, and the recruitment of new staff has already been significantly slowed down.

On the global chart of the asset, the price has left the downwards channel and is trying to consolidate above it. Technical indicators maintain a buy signal: indicator Alligator's EMA oscillation range expands, and the histogram of the AO oscillator forms rising bars in the buying zone.

Resistance levels: 296.00, 315.00. | Support levels: 282.00, 252.00.

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