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Summary
Microsoft (MSFT) Stock Rises on Walgreens Boots (WBA) Cloud Initiative
Microsoft (MSFT) signed a multiyear deal on Tuesday with Walgreens Boots (WBA) enlisting the company’s employees with Microsoft’s 365 cloud apps. The Azure/Microsoft platform will also become the exclusive cloud provider for the majority of WBA’s technology interface. Cloud market leader Amazon is increasingly under pressure as competition in the healthcare space continues to grow and evolve.
Microsoft (MSFT) Daily Chart
Technically speaking, price action has been bullish. Note the close at the top of the Tuesday range. In addition, annual sales (left panel) are growing fast, as the company nears its quarterly earnings release. Relative Strength vs. the S&P 500 (RS Rating) is climbing again, as price action lifts above the 200d.
Microsoft (MSFT) 60 Minute Chart
Given the Tuesday’s close just below the 50d (105.20), in the chart above, we are anticipating follow-through today. MSFT is modestly high this morning in early trading (+0.10) trading 105.11.
If the stock breaks higher, we will reassess a potential “add” point shortly after the “Opening Range.” We currently have the MSFT 106.00 calls expiring on 01/25 and common. We would like to add to both. The calls would be a day trade.
Microsoft (MSFT) and Walgreen’s (WBA) – Additional Insights
The two companies highlighted plans to work to develop next-generation software/hardware enabling smarter health care networks and innovative management solutions using Microsoft’s Azure and Artifical Intelligence technologies. Walgreens (WBA) has plans to initiate in-store “digital health” niche locations to assist in selling MSFT’s (MSFT) healthcare-related devices.
S&P futures are modestly higher this morning in early trading.
We have additional positions highlighted for short-term trades in FB, NFLX, NVDA, and AAPL.
Join us today for our LIVESTREAM broadcast during market hours, as we trade these new positions. Watch, listen and trade from 9:20 AM to 4:15 PM Monday through Friday.
Happy Trading,
Vinny
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