Well, it’s about time. Microsoft ($MSFT) has been circling the drain since peaking and reverseing in late May, the stock having its worst month (June) in decades. Thank goodness that month is over and we can get on with July. While the technical condition is still a bit cautious, we are seeing some green shoots appear after some decent buying action this week.
The MACD is about to roll higher for a buy signal, that is important as it tells us the trajectory before a move actually occurs. Money flow is weak but is improving and near the zero line, stochastics are turning up and could reach overbought with a few more up sessions. Candles though are pink and suggesting cautiously bearish, parabolic SAR (stop and reverse) is now bullish.
Bob Lang is one of the country’s top options traders, an expert market technician, and a highly sought-after mentor and teacher. He is a private trader in equity and option markets and created his own hedge fund and options trading company called Explosive Options. He is also founder and Chief Options Analyst at Aztec Capital, LLC. He has been a regular contributor to TheStreet Pro's paid subscription products since 2009.
Lang is both a short-term trader and long-term stock investor. He utilizes technical and fundamental analysis to find investment opportunities. His coverage for TheStreet Pro specializes in options trading, stock investing, and technical analysis.
One of Lang’s claims to fame is his creation of the acronym FANG to describe the top tech companies at the time (Facebook, Amazon, Netflix, and Google). The acronym has since expanded considerably and is still widely used today. He is the author of the book “Know Your Options” and holds an MBA from the University of Redlands. When he’s not providing financial commentary for TheStreet, he can be found on the tennis court, reading, or traveling.
