"The stock, of course, having been where it has been, has a lot of support. Initially, it's right around $131. It doesn't mean it has to get back to that level, but it certainly would be very safe, in terms of preserving its uptrend on a pullback of that magnitude," said Stockton.
"The last breakout that we had from Microsoft on the chart yielded a very aggressive, and maybe too aggressive, long-term target of about $156 for Microsoft — so, that shows you potential upside when you don't have any resistance left on a chart," she added.Nancy Tengler, chief investment strategist at Butcher Joseph Asset Management, said the fundamentals also support more upside for Microsoft.
Azure, Microsoft's cloud computing platform, regularly reports double-digit revenue growth. In its most recent reporting stretch, ending March, Azure sales grew by 73%, the strongest growth of all its product and service segments.
TradingNation 15 percent higher is adding half a Disney. Let that sink in
TradingNation Sure it does
TradingNation Time to short mister softee
TradingNation you permabull charlatans should be ashamed of yourself pumping stocks at these expensive valuations - you are a disgrace - bet your corporate sponsors are happy with your stock pumping? Never mind the small investors who get burned - WRONG in 2000, 2007, 2019