Shares of Microsoft (NASDAQ:MSFT) have bearishly opened below the pivot of $27.84 today and have reached the first support level of $27.70. Should the shares continue to fall, the support pivots of $27.61 and $27.38 will be of interest.

Microsoft has overhead space with shares priced $27.62, or 16.1% below the average consensus analyst price target of $32.90. The stock should find resistance at its 200-day moving average (MA) of $28.90, as well as support at its 50-day MA of $27.39.

Microsoft share prices have moved between a 52-week high of $32.95 and a 52-week low of $23.65 and are now trading 17% above that low price at $27.62 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Microsoft on October 9th, 2012 by issuing a Downtrend alert when the shares were trading at $29.46. Since that call, shares of Microsoft have fallen 5.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.