Microsoft stock price down 0.157% on WednesdayStockInvest.us, 1 month ago
The Microsoft stock price fell by -0.157% on the last day (Wednesday, 27th Dec 2023) from $374.66 to $374.07. During the last trading day the stock fluctuated 0.603% from a day low at $372.81 to a day high of $375.06. The price has risen in 6 of the last 10 days but is still down by -0.08% for this period. Volume has increased on the last day by 2 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 15 million shares were bought and sold for approximately $5.55 billion.
On Dec 05, 2023, it was reported that Needham gave MSFT a "Hold" grade with a "hold" action.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $373.94 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 20.19% during the next 3 months and, with a 90% probability hold a price between $449.46 and $486.34 at the end of this 3-month period.
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, November 28, 2023, and so far it has fallen -2.26%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. 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 $373.34 and $372.34. A breakdown below any of these levels will issue sell signals.
Microsoft finds support from accumulated volume at $370.73 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $2.25 between high and low, or 0.603%. For the last week the stock has had daily average volatility of 0.97%.
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.