The stocks of Microsoft Corporation (MSFT) broke down from a double top formation as what I had reported back in my May 25 post. After the break down, it continued to drop until it reached the $24.00 support. It then ranged for weeks and consolidated within a bearish flag formation. Currently, it seems to have already broken down from the said formation (indicated by the red circle) and could decline further. Once the $24.43 support gets cleared out, it could slide all the way to the next support at $22.00. On the positive note, if the shares of Bill Gates are able bounce off from their current support and start to ascend, they could move even higher until they meet some selling pressure at $26.00-27.00. Though its bearish reversal as exhibited by its breakdown from a double top, it now has a higher chance of moving south than north.
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