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Possible Bearish Inside Day Candle Pattern Detected for Microsoft Corp (NASDAQ:MSFT)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Microsoft Corp (NASDAQ:MSFT) based on the price action in the company's shares. Yesterday's price range of $109.03 and $111.11 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Microsoft Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Microsoft Corp share prices have been bracketed by a low of $68.09 and a high of $116.18 and closed yesterday at $110.19, 62% above that low price. The 200-day and 50-day moving averages have moved 0.38% higher and 0.28% lower over the past week, respectively.

There is potential upside of 0.0% for shares of Microsoft Corp based on a current price of $110.19 and an average consensus analyst price target of $110.23. The stock should discover initial support at its 50-day moving average (MA) of $109.08 and subsequent support at its 200-day MA of $102.38.

Microsoft Corporation develops, manufactures, licenses, sells, and supports software products. The Company offers operating system software, server application software, business and consumer applications software, software development tools, and Internet and intranet software. Microsoft also develops video game consoles and digital music entertainment devices.

SmarTrend is monitoring the recent change of momentum in Microsoft Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Microsoft Corp in search of a potential trend change.

Keywords: bearish am inside day candle microsoft corp

Ticker(s): MSFT