The company is expected to report earnings for the first quarter of 2020 on Wednesday, and the general market anticipation is for yet another positive earnings surprise, given that this has always happened in the previous four quarters with an average of 11.7 per cent positive surprise being reported.
According to Zacks Investment Research, Microsoft is going to report earnings per share of $1.25, which exceeds the recorded EPS of $1.14 for the same quarter last year.
Revenue is expected to have risen to $32.23 billion, which means that on a year to year basis revenue would have increased by 10.8 per cent.
The MSFT share price is currently trading around 137.41, in what appears to be a Distribution range following the previous long-term bullish channel.
If the earnings report on Wednesday does indeed turn out to be overwhelmingly positive, the share price will attempt to break out above the Historical Resistance at 141.50 and set a new all-time high past 142.37.
Conversely, the price would most likely break below the minor support at 136.32 and head towards the range’s lower-boundary at 130.80.
Microsoft share price 1D chart. Image source: Trendsharks ©, created with TradingView.com
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