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Watch for Microsoft to Potentially Pullback After Gaining 1.19% Yesterday
Jan 15, 2013 (SmarTrend(R) News Watch via COMTEX) --
Microsoft (NASDAQ:MSFT) traded in a range yesterday that spanned from a low of $26.83 to a high of $27.29. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $27.08 on volume of 48.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
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 $27.21, 15% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has slid 0.3%.
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 8.7%. 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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