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Next Support Level for Microsoft (MSFT) is $26.32
Dec 31, 2012 (SmarTrend(R) News Watch via COMTEX) --
Microsoft (NASDAQ:MSFT) has opened bearishly below the pivot of $26.67 today and has reached the first level of support at $26.43. Investors may be interested in a cross of the next downside pivot targets of $26.32 and $25.97.
Potential upside of 28.8% exists for Microsoft, based on a current level of $26.44 and analysts' average consensus price target of $34.06. The stock should find initial resistance at its 50-day moving average (MA) of $27.65 and further resistance at its 200-day MA of $29.77.
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 $26.44, which is 12% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.7% while the 200-day MA has slid 0.4%.
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 9.9%. 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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