TMCnet News
Microsoft (MSFT) Approaches New Downside Target of $26.86Jan 04, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Microsoft (NASDAQ:MSFT) have bearishly opened below the pivot of $27.35 today and have reached the first support level of $27.06. Analysts will be watching for a cross of the next downside pivot targets of $26.86 and $26.37. In the past 52 weeks, shares of Microsoft have traded between a low of $23.65 and a high of $32.95 and are now at $26.98, which is 14% above that low price. The 200-day and 50-day moving averages have moved 0.28% lower and 0.51% lower over the past week, respectively. Microsoft has overhead space with shares priced $26.98, or 20.8% below the average consensus analyst price target of $34.06. The stock should find initial resistance at its 50-day moving average (MA) of $27.51 and further resistance at its 200-day MA of $29.68. SmarTrend recommended that its subscribers protect gains by selling shares of Microsoft on October 9th, 2012 by issuing a Downtrend alert when the shares were trading at $29.46. Since that call, shares of Microsoft have fallen 7.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |