Microsoft just formed the bullish golden cross pattern
Microsoft's chart is signaling that the stock could be due for even more upside ahead. The "Magnificent Seven" name has officially formed a "golden cross," a technical chart pattern that forms when a stock's short-term moving average – usually one that tracks the last 50 days – rises above a long-term moving average, such as a 200-day moving average. The crossover between the two lines on the chart could be a bullish sign that shares have sustained upward momentum over a long-term trajectory and could rise even further, seeing that they've gone above a technical resistance level. This comes after the stock has been on an eight-day winning streak, scoring a fresh all-time intraday high and record close this week, amid investor optimism around the tech company's standing in the artificial intelligence boom. Just last week, CEO Satya Nadella touched on Microsoft's relationship with OpenAI, saying in an interview with Bloomberg that it's the company's largest infrastructure customer . Microsoft has invested a total of almost $14 billion in OpenAI so far. "Having that multifaceted partnership is what we are really focused on," he said to the publication. "Why would any one of us want to go upset that?" MSFT 3M mountain MSFT, 3-month Microsoft shares have surged more than 24% in the past three months, growing at more than three times the rate of the S & P 500's gains in that period. Year to date, the stock has risen more than 12%, likewise outpacing the broader market.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
36 minutes ago
- Yahoo
Altman-Backed Coco Robotics Raises $80 Million for Delivery Bots
Coco Robotics, an urban delivery startup using small autonomous robots, has secured $80 million in new funding from OpenAI CEO Sam Altman and other investors, Bloomberg reported Wednesday. The financing round was led by venture capital firm SNR, with participation from Pelion Venture Partners, Offline Ventures, and Max Altman, Sam's brother. The latest investment brings Coco's total raised capital to over $110 million. The company did not disclose a new valuation. Warning! GuruFocus has detected 7 Warning Sign with DASH. Founded in 2020 and formally known as Cyan Robotics Inc., the Santa Monica-based startup deploys about 1,300 cooler-sized electric robots across cities including Miami, Chicago, Los Angeles and Helsinki. The devices deliver food and small packages and are integrated into logistics platforms from Uber Technologies Inc. (UBER) and DoorDash Inc. (DASH, Financials). Coco also works directly with merchants and recently deepened its partnership with OpenAI. Under a March agreement, the company uses OpenAI's language and vision models alongside its own software stack to help its robots navigate obstacles and make real-time decisions. The two firms also share data from delivery routes to train AI systems. However, CEO Zach Rash said Sam Altman was not involved in structuring that collaboration. Coco is one of several startups racing to bring robotics to last-mile delivery logistics, a segment where cost-cutting and speed remain key challenges. Despite the sector's volatility, investors are betting that Coco's full-stack software and early commercial traction can differentiate it in a growing market. This article first appeared on GuruFocus.
Yahoo
36 minutes ago
- Yahoo
What stock buybacks reveal about where the market may be headed
Deutsche Bank chief global strategist Binky Chadha has a year-end target of 6,550 for the S&P 500 (^GSPC). One of the reasons why he thinks that target could be reached is because companies are still conducting stock buybacks. Hear his explanation in the video above. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. Sign in to access your portfolio
Los Angeles Times
an hour ago
- Los Angeles Times
Wall Street's rally stalls as US stocks dip for their 1st loss in 4 days
NEW YORK — Wall Street's rally stalled on Wednesday after U.S. stocks climbed back within 2% of their all-time high. The Standard & Poor's 500 fell 0.3% for its first loss in four days. The Dow Jones Industrial Average was virtually unchanged after edging down by 1 point, and the Nasdaq composite slipped 0.5%. Several Big Tech stocks led the way lower, and a 1.9% drop for Apple was the heaviest weight on the market. It's been listless this week after unveiling several modest upcoming changes to the software that runs its devices. The action was stronger in the bond market, where Treasury yields eased after a report suggested President Trump's tariffs are not pushing inflation much higher, at least not yet. U.S. consumers had to pay prices for food, gasoline and other costs of living that were 2.4% higher overall in May than a year earlier. That was up from April's 2.3% inflation rate, but it wasn't as bad as the 2.5% that Wall Street was expecting. A fear has been that Trump's wide-ranging tariffs could ignite an acceleration in inflation, just when it had seemed to get nearly all the way back to the Federal Reserve's 2% target from more than 9% three summers ago. It hasn't happened, though economists warn it may take months more to feel the full effect of Trump's tariffs. 'Another month goes by with little evidence of tariffs, but the longer-term inflation challenge they pose remain,' according to Ellen Zentner, chief economic strategist for Morgan Stanley Wealth Management. Financial markets also had only modest reactions to the conclusion of two days of trade talks between the United States and China in London. Trump said Wednesday that China will supply rare-earth minerals and magnets to the United States, while his government will allow Chinese students into U.S. universities in a deal that still needs an agreement by him and by China's leader. Trump also said that 'President XI and I are going to work closely together to open up China to American Trade. This would be a great WIN for both countries!!!' Investors are still hoping for a more sweeping trade deal that would ease tensions between the world's two largest economies. Hopes for such deals between the United States and countries around the world have been one of the main reasons the S&P 500 has charged nearly all the way back to its all-time high after dropping roughly 20% below a couple months ago. Without them, the fear is that Trump's high tariffs could drive the economy into a recession while pushing inflation higher. The S&P 500 is now sitting 2% below its record. On Wall Street, Chewy dropped 11% after the seller of pet supplies reported a weaker profit for the latest quarter than analysts had forecast. Expectations were high after its stock had already rallied nearly 37% coming into the day for the year so far. Tesla swung between gains and losses before finishing with a rise of 0.1% to continue its shaky run. It's been recovering much of its big losses taken last week after Elon Musk's relationship with Trump imploded, which in turn raised fears about a loss of business for the electric-vehicle company. Musk on Wednesday backed away from some of his earlier comments and said they went 'too far.' All told, the S&P 500 fell 16.57 points to 6,022.24. The Dow Jones Industrial Average slipped 1.10 to 42,865.77, and the Nasdaq composite sank 99.11 to 19,615.88. In the bond market, the yield on the 10-year Treasury eased to 4.41% from 4.47% late Tuesday. Shorter-term yields, which more closely track expectations for what the Fed will do with overnight interest rates, fell more. Wednesday's better-than-expected reading on inflation raised expectations along Wall Street that the Fed could cut its main interest rate at least twice by the end of the year. The Fed has been keeping interest rates steady so far this year, going on pause after cutting rates at the end of last year. It has been waiting to see how much Trump's tariffs raise inflation because cutting interest rates could push inflation up even more, in addition to giving the economy a boost. 'The Fed could be justified in doing some preemptive rate cuts,' said Brian Jacobsen, chief economist at Annex Wealth Management. 'They were afraid that inflation would rise before growth would slow, but the script has been flipped and they will likely change their tune.' In stock markets abroad, indexes fell across much of Europe after rising in Asia. South Korea's Kospi was one of the best performers and jumped 1.2%. Choe writes for the Associated Press. AP Business Writer Yuri Kageyama contributed.
