MSFT: MSFT Consolidating for Breakout

Based on the technical chart of Mr. Softy a break above $30 should confirm the start of a new uptrend. Also, MSFT is sitting at the 50 day MA with the 200 day MA at about $31. Buy only on confirmed breakout above $30 and take only half a position with the other half once above $31. The potential upside should be the area of congestion around $32-33. While upside could be greater, it is unlikely to be any more than $38 which is the most recent high water mark. As the market is still in a bear market rally, any longs should be held carefully with trailing stops.