Microsoft shares are trading up $2.66 or 0.81% at $329.92. At that level, the share price is testing its 100-day moving average at $329.96. Getting above the 100 day moving average would increase the bullish bias for one of the leaders in the large-cap tech sector. It could also be a precursor for more momentum to the upside.
Looking at the NASDAQ index, it is up 71.74 points or 0.53% at 13503.07. It’s 100-day moving average is higher, however, at 13582.09. (See blue line on the daily chart below).
Of note is the price gapped below the 100-day moving average back on September 21. The price has not been above that moving average since then. Getting back above that moving average would increase the bullish bias for the overall tech market.
This article was written by Greg Michalowski at www.forexlive.com. Source