Sign In
The Microsoft stock price gained 1.22% on the last trading day (Friday, 19th Jan 2024), rising from $393.87 to $398.67. During the last trading day the stock fluctuated 1.31% from a day low at $393.50 to a day high of $398.67. The price has risen in 8 of the last 10 days and is up by 8.35% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 million more shares were traded than the day before. In total, 28 million shares were bought and sold for approximately $11.01 billion.
On Jan 18, 2024, it was reported that Exane BNP Paribas gave MSFT a "Outperform" grade with a "upgrade" action.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 12.18% during the next 3 months and, with a 90% probability hold a price between $414.25 and $457.81 at the end of this 3-month period.
Mostly positive signals in the chart today. The Microsoft stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $389.74 and $376.15. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, December 14, 2023, and so far it has risen 8.95%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
On the downside, the stock finds support just below today's level from accumulated volume at $370.73 and $369.67.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Microsoft finds support just below today's level at $370.73. If this is broken, then the next support from accumulated volume will be at $369.67 and $340.67.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $5.17 (1.31%) between high and low. For the last week, the stock has had daily average volatility of 1.28%.
Microsoft holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Check full Microsoft forecast and analysis here.