Green day on Tuesday for Microsoft stock after gaining 0.88%

The Microsoft stock price gained 0.88% on the last trading day (Tuesday, 17th Sep 2024), rising from $431.34 to $435.15. It has now gained 7 days in a row. It is not often that stock manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 2.21% from a day low at $432.30 to a day high of $441.85. The price has risen in 7 of the last 10 days and is up by 6.28% 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, 5 million more shares were traded than the day before. In total, 19 million shares were bought and sold for approximately $8.16 billion.

On Sep 17, 2024, it was reported that Deutsche Bank gave MSFT a "Buy" grade with a "hold" action.

Given the current short-term trend, the stock is expected to fall -10.21% during the next 3 months and, with a 90% probability hold a price between $333.32 and $390.73 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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 $423.86 and $414.64. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, August 05, 2024, and so far it has risen 10.12%. 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.

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 $9.55 (2.21%) between high and low. For the last week, the stock has had daily average volatility of 2.06%.

Since the Microsoft has been rising for 7 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

Microsoft holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.