MSFT Share Buyback + Bull Flag Breakout

MSFT had a shorter term bull flag breakout last week, but stalled around $430 which has been previous support/resistance. Not much action on it today, but they just announced a buyback and dividend after hours. So far only seeing a small pop in after hours trading.

I'm skeptical about tech stocks in particular being bullish, but right now we have a lot of breakouts and bullish charts. I wouldn't do anything crazy until after FOMC, but this is one I'll have my eye on. Not only do we have the news, but I consider this $430 area to be a major one.

If it is able to break back above and continue the momentum, it should eventually hit the bull flag pole target around $456. Next upside target from there would be ATH. I'd be comfortable holding longs until it breaks back below $430 at which point I'd stop out.