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

By James Quinn

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. Today's price range of $144.73 and $145.50 is within yesterday'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 $93.96 and a high of $145.99 and are now at $144.93, 54% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 0.6%.

Microsoft Corp (NASDAQ:MSFT) defies analysts with a current price ($144.93) 23.9% above its average consensus price target of $110.23. The stock should discover initial support at its 50-day moving average (MA) of $139.29 and subsequent support at its 200-day MA of $128.19.

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 tracking the current trend status for Microsoft Corp and will alert subscribers who have MSFT in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle microsoft corp

Ticker(s): MSFT