Microsoft just hit records, but one level could stop the rally in its tracks $MSFT (via TradingNation)
, founder of TradingAnalysis.com, said Microsoft's outperformance is clear in the charts.Trading Nation
." "The chart below us here is Microsoft into the QQQs so if this chart below is rising, Microsoft is outperforming the Nasdaq and that's absolutely what's happening here and there's no signs of giving back here on this chart." Microsoft shares have surged nearly 40% so far this year, tracking for their eighth annual gain in a row. TheWhile Microsoft's charts remain supportive, Gordon does see one critical level that could put the brakes on this rally.
"I think we will meet resistance in the upper end of this channel around $155 so if we start to hesitate there, watch out," he said.Microsoft still looks like a buy to Mark Tepper, president of Strategic Wealth Partners. "We'd stick with it. I mean, what's not to love about Microsoft right now? The valuation is probably fair, but I mean you're paying for solid growth and execution. Investors want that, and that's what Microsoft delivers," Tepper said Thursday on "Trading Nation."Amazon's"They've got some advantages on Amazon and they do have the ability to overtake them over the next few years," said Tepper.
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