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The Microsoft stock price gained 1.78% on the last trading day (Wednesday, 15th Mar 2023), rising from $260.79 to $265.44. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.80% from a day low at $259.21 to a day high of $266.48. The price has risen in 6 of the last 10 days and is up by 7.78% 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, 12 million more shares were traded than the day before. In total, 46 million shares were bought and sold for approximately $12.20 billion.
Wedbush is very positive about MSFT and gave it a "$280.00 - $290.00" rating on Feb 24, 2023. The price target was changed from 280 to 290.Over the last 90 days, this security got 12 buy, 17 sell, and 0 hold ratings.
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 10.76% during the next 3 months and, with a 90% probability hold a price between $270.35 and $311.72 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, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $255.56 and $256.00. 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 Tuesday, February 14, 2023, and so far it has fallen -2.47%. 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 $244.69 and $240.61.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 $244.69. If this is broken, then the next support from accumulated volume will be at $240.61 and $229.10.
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 $7.27 between high and low, or 2.80%. For the last week, the stock has had daily average volatility of 3.01%.
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.
Check full Microsoft forecast and analysis here.