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The Microsoft stock price gained 1.08% on the last trading day (Tuesday, 28th Nov 2023), rising from $378.61 to $382.70. During the last trading day the stock fluctuated 1.28% from a day low at $378.16 to a day high of $383.00. The price has risen in 6 of the last 10 days and is up by 4.37% over the past 2 weeks. Volume fell on the last day by -706 thousand shares and in total, 20 million shares were bought and sold for approximately $7.59 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
On Nov 21, 2023, it was reported that Piper Sandler gave MSFT a "Overweight" grade with a "hold" action.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $382.41, a level that may pose a second chance to hit a runner. According to fan-theory $418.44 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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 $376.71 and $350.96. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, October 26, 2023, and so far it has risen 16.72%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Microsoft finds support from accumulated volume at $377.44 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $4.84 between high and low, or 1.28%. For the last week, the stock has had daily average volatility of 1.17%.
Several short-term signals, along with a general good trend, are positive and the stock has broken the rising trend up, which indicates an even stronger rate of rising. We can 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 period. Due to a possible false trend-break listing stock as pure buy candidate is held back.
Check full Microsoft forecast and analysis here.