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Microsoft (MSFT) Breaks Through Resistance at $26.70
Nov 19, 2012 (SmarTrend(R) News Watch via COMTEX) --
Shares of Microsoft (NASDAQ:MSFT) opened today above their pivot of $26.52 and have already reached the first level of resistance at $26.70. Analysts will be watching for a cross of the next upside pivot targets of $26.88 and $27.24.
There is potential upside of 32.6% for shares of Microsoft based on a current price of $26.69 and an average consensus analyst price target of $35.40. Microsoft shares should first meet resistance at the 50-day moving average (MA) of $29.96 and find additional resistance at the 200-day MA of $30.43.
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 $26.69, 13% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.2%.
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 10.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Write to Chip Brian at cbrian@mysmartrend.com
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