Stronger technical forecast for Microsoft stock price after Friday trading.

The Microsoft stock price gained 0.753% on the last trading day (Friday, 14th Jul 2023), rising from $342.66 to $345.24. It has now gained 4 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 2.07% from a day low at $344.31 to a day high of $351.43. The price has risen in 7 of the last 10 days and is up by 3.04% 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, 9 million more shares were traded than the day before. In total, 28 million shares were bought and sold for approximately $9.74 billion.

D.A. Davidson is very positive about MSFT. The price target was set to 325 (Feb 08, 2023).

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 18.16% during the next 3 months and, with a 90% probability hold a price between $385.32 and $432.01 at the end of this 3-month period.

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 $338.27 and $334.41. A breakdown below any of these levels will issue sell signals. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, June 15, 2023, and so far it has fallen -0.82%. Further fall is indicated until a new bottom pivot has been found.

On the downside, the stock finds support just below today's level from accumulated volume at $305.41 and $304.83.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 $305.41. If this is broken, then the next support from accumulated volume will be at $304.83 and $295.37.

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 $7.12 between high and low, or 2.07%. For the last week the stock has had daily average volatility of 1.87%.

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.