Microsoft stock upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.

The Microsoft stock price gained 1.56% on the last trading day (Friday, 9th Feb 2024), rising from $414.11 to $420.55. 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 1.38% from a day low at $415.09 to a day high of $420.82. The price has risen in 6 of the last 10 days and is up by 4.11% 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, 4 million more shares were traded than the day before. In total, 22 million shares were bought and sold for approximately $9.15 billion.

On Feb 07, 2024, it was reported that Oppenheimer gave MSFT a "Overweight" grade with a "upgrade" action.

The stock has broken the strong 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 $416.52, a level that may pose a second chance to hit a runner. According to fan-theory $449.05 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 $410.69 and $390.63. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, January 31, 2024, and so far it has risen 5.78%. 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).

On the downside, the stock finds support just below today's level from accumulated volume at $377.44 and $370.73.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 $377.44. If this is broken, then the next support from accumulated volume will be at $370.73 and $369.67.

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 $5.73 (1.38%) between high and low. For the last week, the stock has had daily average volatility of 1.37%.

Microsoft holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.