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Stronger technical forecast for Microsoft stock price after Friday trading.

StockInvest.us, 3 weeks ago

Microsoft

The Microsoft stock price gained 0.111% on the last trading day (Friday, 31st May 2024), rising from $414.67 to $415.13. During the last trading day the stock fluctuated 3.02% from a day low at $404.52 to a day high of $416.75. The price has risen in 6 of the last 10 days but is still down by -1.39% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 20 million more shares were traded than the day before. In total, 48 million shares were bought and sold for approximately $19.79 billion.

On May 28, 2024, it was reported that Citigroup gave MSFT a "Buy" grade with a "hold" action.

The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Microsoft stock with a 90% probability to be traded between $392.68 and $433.43 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

Microsoft

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 $425.28. On a fall, the stock will find some support from the long-term average at approximately $413.31. 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. 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 Wednesday, May 22, 2024, and so far it has fallen -3.57%. Further fall is indicated until a new bottom pivot has been found.

Microsoft finds support from accumulated volume at $406.32 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $12.23 (3.02%) between high and low. For the last week, the stock has had daily average volatility of 1.85%.

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Microsoft stock to perform well in the short-term period.We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Check full Microsoft forecast and analysis here.