MSFU

After a failed mid-June rally into resistance and persistent lower highs, the medium-term structure favors bearish engagement. Short-term price is coiling around the 9/20 EMAs without clear breakdown, so patience is required. Look to sell into a retest of the EMAs or the resistance zone for optimal entry.

• ↑Azure segment posted double-digit revenue growth, boosting MSFT fundamentals.
• ↑MSFU closed +2.1% on 08/18 with 2.62 M shares traded (avg 3.68 M).
• ↓MSFU NAV slid 6.1% on 08/17, highlighting elevated volatility.