Technical Earnings Preview: Microsoft near life highs before earnings
The shares are in an uptrend ahead of earnings news that has broken out above a prior uptrend. If the news is a negative surprise, the current uptrend leg which began in early July would be broken on a move below $104. The next significant support would be at the uptrend support line that began in April, which today would intersect price at the $100.50 area. Support below that level would be at $98, which is current point of intersection with the long-term uptrend line. On a break of that line, support would be at $95.84. If the news is a positive surprise, only the life high at $106.50 would pose resistance. On a breakout above the life high, a run to the $110-$115 area would become the next probable upside range objective.