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Watch for Continued Gains in Shares of Microsoft Corp (MSFT)

By Shiri Gupta

Shares of Microsoft Corp (NASDAQ:MSFT) traded at a new 52-week high today of $118.44. Approximately 1.3 million shares have changed hands today, as compared to an average 30-day volume of 25.7 million shares.

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.

In the past 52 weeks, shares of Microsoft Corp have traded between a low of $87.08 and a high of $118.44 and are now at $118.17, which is 36% above that low price. The 200-day and 50-day moving averages have moved 0.25% higher and 0.90% higher over the past week, respectively.

Microsoft Corp (NASDAQ:MSFT) is currently priced 6.7% above its average consensus analyst price target of $110.23. The stock should discover initial support at its 50-day moving average (MA) of $107.94 and subsequent support at its 200-day MA of $106.92.

SmarTrend recommended that subscribers consider buying shares of Microsoft Corp on January 9th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $104.06. Since that recommendation, shares of Microsoft Corp have risen 13.0%. We continue to monitor MSFT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows microsoft corp

Ticker(s): MSFT