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Watch for Shares of Microsoft (MSFT) to Approach Resistance at $27.95
Feb 25, 2013 (SmarTrend(R) News Watch via COMTEX) --
Shares of Microsoft (NASDAQ:MSFT) have bullishly opened above the pivot of $27.67 today and have reached the first resistance level of $27.85. Should the shares continue to rise, the resistance pivots of $27.95 and $28.23 will be of interest.
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 $27.92, 18% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.3%.
Microsoft has overhead space with shares priced $27.92, or 15.1% below the average consensus analyst price target of $32.90. The stock should hit resistance at its 200-day moving average (MA) of $28.96, as well as support at its 50-day MA of $27.35.
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 6.7%. 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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