Red day on Wednesday for Microsoft stock after losing 0.707%StockInvest.us, 2 months ago
The Microsoft stock price fell by -0.707% on the last day (Wednesday, 20th Dec 2023) from $373.26 to $370.62. During the last trading day the stock fluctuated 1.48% from a day low at $370.53 to a day high of $376.02. The price has risen in 6 of the last 10 days and is up by 0.49% over the past 2 weeks. Volume has increased on the last day by 5 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 26 million shares were bought and sold for approximately $9.63 billion.
On Dec 05, 2023, it was reported that Needham gave MSFT a "Hold" grade with a "hold" action.
Given the current short-term trend, the stock is expected to rise 22.65% during the next 3 months and, with a 90% probability hold a price between $454.57 and $492.49 at the end of this 3-month period.
A sell signal was issued from a pivot top point on Tuesday, November 28, 2023, and so far it has fallen -3.16%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Microsoft stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $371.71. On a fall, the stock will find some support from the long-term average at approximately $369.68. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal.
Microsoft finds support from accumulated volume at $369.67 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 $5.49 between high and low, or 1.48%. For the last week the stock has had daily average volatility of 1.57%.
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.Check full Microsoft forecast and analysis here.