TMCnet News
Microsoft (MSFT) Crosses Pivot Point Support at $27.68Jan 31, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Microsoft (NASDAQ:MSFT) have bearishly opened below the pivot of $27.93 today and have reached the first support level of $27.68. Investors may be interested in a cross of the next downside pivot targets of $27.50 and $27.07. Microsoft (NASDAQ:MSFT) has potential upside of 18.7% based on a current price of $27.73 and analysts' consensus price target of $32.90. The stock should hit resistance at its 200-day moving average (MA) of $29.27, as well as support at its 50-day MA of $27.08. In the past 52 weeks, Microsoft share prices have been bracketed by a low of $23.65 and a high of $32.95 and are now at $27.73, 17% above that low price. The 200-day and 50-day moving averages have moved 0.14% lower and 0.24% higher over the past week, respectively. 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 5.5%. 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 |