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After Yesterday's Rally of 1.01% Shares Could Potentially Pullback

By James Quinn

Microsoft (NASDAQ:MSFT) traded in a range yesterday that spanned from a low of $57.45 to a high of $58.21. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $57.52 on volume of 12.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Microsoft share prices have moved between a 52-week high of $58.21 and a 52-week low of $39.72 and are now trading 46% above that low price at $57.92 per share. The 200-day and 50-day moving averages have moved 0.13% higher and 0.25% lower over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Microsoft on July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $53.09. Since that recommendation, shares of Microsoft have risen 8.1%. We continue to monitor MSFT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Microsoft

Ticker(s): MSFT