Microsoft stock price up 0.603% on TuesdayStockInvest.us, 4 weeks ago
The Microsoft stock price gained 0.603% on the last trading day (Tuesday, 23rd Jan 2024), rising from $396.51 to $398.90. During the last trading day the stock fluctuated 1.37% from a day low at $393.97 to a day high of $399.36. The price has risen in 8 of the last 10 days and is up by 6.46% over the past 2 weeks. Volume fell on the last day by -6 million shares and in total, 18 million shares were bought and sold for approximately $7.24 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 Jan 18, 2024, it was reported that Exane BNP Paribas gave MSFT a "Outperform" grade with a "upgrade" action.
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 11.47% during the next 3 months and, with a 90% probability hold a price between $410.76 and $454.98 at the end of this 3-month period.
Mostly positive signals in the chart today. 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 $393.74 and $377.22. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, December 14, 2023, and so far it has risen 9.01%. 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 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.
On the downside, the stock finds support just below today's level from accumulated volume at $370.73 and $369.67.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 $370.73. If this is broken, then the next support from accumulated volume will be at $369.67 and $340.67.
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 $5.39 (1.37%) between high and low. For the last week, the stock has had daily average volatility of 1.37%.
The Microsoft stock is extremely overbought on RSI14 (85). This increases the short-term risk substantially.
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.