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7/15/99 Microsoft Corp (MSFT)
Points to watch: MSFT closed yesterday at 94.94, and is nearing its April 6th high of 95.63. The stock's ability to break to new highs is essential if the broader tech sector rally is to continue. The stock is short term overbought, but technical indicators continue to move higher, indicating the stock still has some more upside. One point to note is that MSFT made new highs in both July 1998 and July 1997, and then corrected sharply. The stock is a short term buy on a closing break above 95.63. Additional upside resistance is at 98.75-100.5, with downside support at 91.5 and 89.13.
