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Berger: Microsoft holding firm
One stock Serge Berger will be watching closely this week is software giant Microsoft.
The month of October was a wild ride for the stock markets including Microsoft. After falling sharply in the first half of the month Microsoft stock has since recovered almost all of the losses.
Serge spent last week scanning the market for stocks that held important support zones during the October sell-off and didn’t break their charts or make lower lows.
Microsoft falls into this category as its mid-October lows held just about all trend lines and important support zones, which creates a better chance for making higher highs.
In Immediate-term Microsoft, just like the broader stock market, looks overbought. However, Serge is looking to buy the stock on any pull back for an year-end rally on the next dip.
Buy at $45.50
Target: $50
Stop: $43
01:17 minutes
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