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The Microsoft stock price gained 1.26% on the last trading day (Tuesday, 8th Oct 2024), rising from $409.54 to $414.71. During the last trading day the stock fluctuated 1.83% from a day low at $408.19 to a day high of $415.65. The price has fallen in 7 of the last 10 days and is down by -3.37% for this period. Volume fell on the last day by -882 thousand shares and in total, 19 million shares were bought and sold for approximately $7.74 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 Oct 08, 2024, it was reported that Oppenheimer gave MSFT a "Perform" grade with a "downgrade" action.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -4.01% during the next 3 months and, with a 90% probability hold a price between $367.07 and $417.58 at the end of this 3-month period.
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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Microsoft stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $417.85 and $420.82. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, September 19, 2024, and so far it has fallen -5.47%. 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).
Microsoft finds support from accumulated volume at $408.49 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 $7.46 between high and low, or 1.83%. For the last week the stock has had daily average volatility of 1.54%.
Microsoft holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Check full Microsoft forecast and analysis here.