MSFT: Candlestick Patterns Reveal Buybacks

MSFT shows the classic candlestick patterns of a major buyback underway. The intent of buybacks is to increase the price of the stock and reduce the number of outstanding shares in order to improve the EPS. Corporations generally use the bank of record to do the actual buying of the shares of stock. These are usually done via Price and Volume weighted orders which trigger on both volume and price rising.