Green day on Monday for Microsoft stock after gaining 0.677%
StockInvest.us, 3 weeks ago
The Microsoft stock price gained 0.677% on the last trading day (Monday, 14th Oct 2024), rising from $416.32 to $419.14. During the last trading day the stock fluctuated 1.56% from a day low at $417.52 to a day high of $424.04. The price has fallen in 6 of the last 10 days and is down by -2.59% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 16 million shares were bought and sold for approximately $6.88 billion.
On Oct 14, 2024, it was reported that Deutsche Bank gave MSFT a "Buy" grade with a "hold" action.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Microsoft stock with a 90% probability to be traded between $383.80 and $430.06 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stock seldom manage to go directly from the bottom of a trend up to the top. Stock turning up in the middle of a horizontal trend are therefore considered to be potential runners.
There are mixed signals in the stock today. The Microsoft stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $420.47. On a fall, the stock will find some support from the short-term average at $415.58. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, September 19, 2024, and so far it has fallen -4.46%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell 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.
Microsoft finds support from accumulated volume at $418.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $6.52 (1.56%) between high and low. For the last week, the stock has had daily average volatility of 1.36%.
Microsoft holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Check full Microsoft forecast and analysis here.