MSFT Candle Chart Shows Support

I charted Microsoft (MSFT) when it was trading $23.13 on July 24, 2009 at 10:40 am.  I’m kicking myself for not dumping my long shares in my IRA before earnings yesterday.  Had I been watching this chart I would have.  I’m still long 400 shares in my IRA, but now think this might be a good time to get in for those not already long.  The long trading channel shows support coming in just under $23.00 where MSFT bottomed this morning.  That happens to be at the same point of MSFT’s 50 day moving average.  The 10 and 20 day moving averages broke this morning, so they could provide some resistance to the upside.