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After Yesterday's Rally of 2.84% Shares Could Potentially Pullback

By Shiri Gupta

Microsoft (NASDAQ:MSFT) traded in a range yesterday that spanned from a low of $50.40 to a high of $51.50. Yesterday, the shares gained 2.8%, which took the trading range above the 3-day high of $51.22 on volume of 18.1 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 $56.85 and a 52-week low of $39.72 and are now trading 30% above that low price at $51.49 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Microsoft on April 22nd, 2016 by issuing a Downtrend alert when the shares were trading at $51.60. Since that call, shares of Microsoft have fallen 3.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders Microsoft

Ticker(s): MSFT