Microsoft Corp

MSFT is in a Stage 3 distribution phase after failed rallies below the June peak, with flattening EMAs and supply dominance on down-volume. The long-term uptrend remains intact, but medium-term bias is bearish given the distribution structure. Short-term timing lacks clear sell triggers, warranting a deferred sell into strength at resistance—around the 9/21 EMA and 50 SMA zone near 400–405.

• ↑Q3 FY26 revenue $82.9B (+18% YoY).
• ↑Cloud revenue $54B (+29% YoY) highlights Azure growth.
• ↓Negative earnings yield highlights stretched valuation relative to profits.