Source: PaxForex Premium Analytics Portal, Technical Insight

Microsoft has announced that it will permanently close its 83 Microsoft Store. The company has decided to focus on online sales. The company's press office said so. For about ten years, Microsoft has expanded its presence in retail, trying to compete with Apple: the company wanted people to try and test new Microsoft software and hardware. The company even built a store on 5th Avenue in New York City, a few blocks from Apple's famous glass cube. The Microsoft Store was closed in late March due to the coronavirus pandemic. Three months later, the company decided not to open them at all.

Microsoft, H4

Pivot: 210.67

Analysis:

Provided that the asset is traded below 213.30, follow the recommendations below:

• The time frame: H4
• Recommendation: short position
• Entry point: 210.67
• Take Profit 1:  207.30
• Take Profit 2: 205.90

Alternative scenario: 

In case of breakout of the level 213.30, follow the recommendations below:

• The timeframe: H4
• Recommendation: long position
• Entry point: 213.30
• Take Profit 1: 215.70
• Take Profit 2: 217.10

Comment:

RSI is below its neutral area by 50. MACD is positive and is below its signal line. The MACD should break through the zero line to expect further declines. Microsoft trades with a 20-period moving average (211.74), but with a 50-period moving average (208.96).

Key levels:

Microsoft, D1

Pivot: 210.79

Analysis:

While the asset is traded above 202.00, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 210.79
• Take Profit 1: 221.00
• Take Profit 2: 231.00

Alternative scenario:

If the level 202.00 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 202.00
• Take Profit 1: 193.50
• Take Profit 2: 187.30

Comment:

RSI shows an uptrend.

Key levels:

We also advise you to pay attention to General Electric for intra-day trading:

Pivot: 6.80

Analysis:

While the asset is traded above 6.00, follow the recommendations below:

• Time frame: H4
• Recommendation: long position
• Entry point: 6.80
• Take Profit 1: 8.37
• Take Profit 2: 8.89

Alternative scenario:

If the level 6.00 is broken-down, follow the recommendations below.

• Time frame: H4
• Recommendation: short position
• Entry point: 6.00
• Take Profit 1: 5.50
• Take Profit 2: 5.00