Microsoft (MSFT) shares surged in extended trading Wednesday after the Windows maker issued fiscal third-quarter resu♐lts♎ and guidance that topped Wall Street's expectations. boosted by strong growth in its cloud business.

CEO Satya Nadella said the company’s Intelligent Cloud segment, which houses its Azure cloud computing platform, continues to benefit from🅺 businesses’ need to expand output, reduce costs and accelerate growth, adding that Microsoft continues to innovate across its AI stack.

While Microsoft shares have risen 15% from their April low, they remain down 6% since the start of the year as of Wednesday’s close. Like other big tech names, concerns about sweeping tariffs and a reduction in 澳洲幸运5官方开奖结果体彩网:AI spending continue to weigh on investor sentiment.

Microsoft shares rose nearly 7% to around $42🅘3 in after-hours trading.

Below, we take a closer look at Microsoft’s chart and use 澳洲幸运5官方开奖结果体彩网:technical analysis to identify key price levels worth watching.

Successful Falling Wedge Retest 

Following a successful retest of the top trendline of a 澳洲幸运5官方开奖结果体彩网:falling wedge pattern, Microsoft shares staged a sharp moveও higher leading into the tech giant’s earning’s report, potentially setting the stage for aও longer-term bullish reversal.

It’s also worth noting that the shares on Wednesday registered their highest 澳洲幸运5官方开奖结果体彩网:trading volume in three weeks, suggesting that larger market participants, such as 澳洲幸运5官方开奖结果体彩网:institutional investors an✨d hedge funds, had pos💎itioned for a significant post-earnings move.

Let’s analyze Microsoft’s chart to identify two key overhead areas to watch, while also pointing out crucial 澳洲幸运5官方开奖结果体彩网:support levels worth monitoring during future retracements.

Key Overhead Areas to Watch

The first overhead area to watch sits at around $442. This level may provide resistance near a trendline that roughly links several peaks that ♏formed on the ꦍchart between September and January.

A decisive close above this level could see Microsoft shares make a move up toward the $468 area. Investors who have 澳洲幸运5官方开奖结果体彩网:accumulated shares at lower price may look for 澳洲幸运5官方开奖结果体彩网:profit-taking opportunities in this location near the stock’s 澳洲幸运5官方开奖结果体彩网:record high set in July last year.

Crucial Support Levels Worth Monitoring

During future retracements in the stock, it’s worth tracking the $395 level near Wednesday’s closing price. This area on the chart has provided selling pressure over the last month around the late March 澳洲幸运5官方开奖结果体彩网:countertrend high and mid-April peak following the stock’s initial breakout from the falling wedge pattern.

Finally, a deeper pullback could see Microsoft shares revisit lower support around $359. Investors may seek buying opportunities in this region near last week’s trough situated just above this month’s significant 澳洲幸运5官方开奖结果体彩网:swing low.

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