Green day on Tuesday for Microsoft

The Microsoft stock price gained 0.737% on the last trading day (Tuesday, 16th May 2023), rising from $309.46 to $311.74. During the last trading day the stock fluctuated 1.21% from a day low at $309.95 to a day high of $313.70. The price has been going up and down for this period, and there has been a 2.07% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 9 million more shares were traded than the day before. In total, 26 million shares were bought and sold for approximately $7.97 billion.

D.A. Davidson is very positive about MSFT and gave it a "" rating on Feb 08, 2023. The price target was set to 325.

The stock lies in the middle of a 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 26.38% during the next 3 months and, with a 90% probability hold a price between $368.96 and $400.27 at the end of this 3-month period.

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 $309.75 and $294.63. A breakdown below any of these levels will issue sell signals. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, May 10, 2023, and so far it has fallen -0.183%. Further fall is indicated until a new bottom pivot has been found.

On the downside, the stock finds support just below today's level from accumulated volume at $295.37 and $279.43.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 $295.37. If this is broken, then the next support from accumulated volume will be at $279.43 and $276.20.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $3.75 between high and low, or 1.21%. For the last week, the stock has had daily average volatility of 1.31%.

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Microsoft stock to perform well in the short-term.