Microsoft stock price ended on $346.07 on Wednesday after gaining 2.35%

The Microsoft stock price gained 2.35% on the last trading day (Wednesday, 1st Nov 2023), rising from $338.11 to $346.07. It has now gained 4 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 2.28% from a day low at $339.66 to a day high of $347.41. The price has risen in 8 of the last 10 days and is up by 4.83% 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, 9 million more shares were traded than the day before. In total, 27 million shares were bought and sold for approximately $9.36 billion.

On Oct 25, 2023, it was reported that HSBC gave MSFT a "Buy" grade with a "upgrade" action.

The stock has broken the weak 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 $342.69, a level that may pose a second chance to hit a runner. According to fan-theory $370.19 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 $335.77 and $326.82. 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 5.54%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Microsoft finds support from accumulated volume at $340.67 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 $7.75 between high and low, or 2.28%. For the last week the stock has had daily average volatility of 2.58%.

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.