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Microsoft Rises 1.69% on Heavy Volume: Watch For Potential Pullback
Jan 23, 2013 (SmarTrend(R) News Watch via COMTEX) --
Microsoft (NASDAQ:MSFT) traded in a range yesterday that spanned from a low of $27.20 to a high of $27.64. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $27.47 on volume of 49.4 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 $27.60, 17% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 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 7.8%. 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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