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TMCNet:  Microsoft (MSFT) Approaches New Downside Target of $26.86

[January 04, 2013]

Microsoft (MSFT) Approaches New Downside Target of $26.86

Jan 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 --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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