Stronger technical forecast for Microsoft stock price after Wednesday trading.

StockInvest.us, 1 month ago

Microsoft

The Microsoft stock price gained 1.94% on the last trading day (Wednesday, 12th Jun 2024), rising from $432.68 to $441.06. 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 2.34% from a day low at $433.25 to a day high of $443.40. The price has risen in 7 of the last 10 days and is up by 2.77% 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, 8 million more shares were traded than the day before. In total, 22 million shares were bought and sold for approximately $9.76 billion.

On Jun 07, 2024, it was reported that New Street gave MSFT a "Buy" grade with a "initialise" action.

The stock has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $432.46 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $473.96 sometime during the next 3 months.

Microsoft

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 $427.15 and $417.01. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 03, 2024, and so far it has risen 6.66%. 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 $416.42 and $415.13.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 $416.42. If this is broken, then the next support from accumulated volume will be at $415.13 and $399.04.

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 $10.15 between high and low, or 2.34%. For the last week the stock has had daily average volatility of 1.40%.

Microsoft holds several positive signals and has broken the wide and horizontal trend up. As the stock is 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.

Check full Microsoft forecast and analysis here.