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

StockInvest.us, 1 month ago

Microsoft

The Microsoft stock price gained 1.13% on the last trading day (Thursday, 18th Jan 2024), rising from $389.47 to $393.87. During the last trading day the stock fluctuated 0.99% from a day low at $390.12 to a day high of $393.99. The price has risen in 7 of the last 10 days and is up by 6.28% 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, 2 million more shares were traded than the day before. In total, 22 million shares were bought and sold for approximately $8.65 billion.

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 12.33% during the next 3 months and, with a 90% probability hold a price between $414.43 and $457.87 at the end of this 3-month period.

Microsoft

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 $386.47 and $375.69. 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 7.64%. 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 is rising along with the price. This is considered to be a good technical signal.

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.

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 $3.87 between high and low, or 0.99%. For the last week the stock has had daily average volatility of 1.55%.

Microsoft holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". 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.

Check full Microsoft forecast and analysis here.