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.
