Microsoft vs Google: Is it about Web Browser Domination?

Microsoft (NASDAQ: MSFT) stock has had better months than May. MSFT shares lost 10% during the last month of spring and news about Google’s web browser, Chrome, overtaking Internet Explorer today is not exactly the best news for Microsoft shareholders! The effect’s magnitude on the tech stock performance of the web browsers’ war will become apparent over the next few days and might fuel this month’s downtrend. For optimistic MSFT shareholders the  support level (converted from resistance level) at $28 shown in the weekly stock graph could be strong enough to withstand the selling pressure after the negative stock news.

Meanwhile Google’s weekly stock chart contains mixed technical signals, like the double top and the bearish pattern in January ’12, but at the same time the new higher lows along with a strong support level at $600. Google (NASDAQ: GOOG) Chrome is now more popular than ever and I’d bet Google’s shares to climb up to $650 before that level stops supporting and letting down the investors.

Would you buy or sell any of those stocks today?