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Watch for Shares of Microsoft Corp (MSFT) to Approach Support at $109.25

By James Quinn

Microsoft Corp (NASDAQ:MSFT) has opened bearishly below the pivot of $109.81 today and has reached the first level of support at $109.46. Should the shares continue to fall, the support pivots of $109.25 and $108.69 will be of interest.

Potential upside of 0.6% exists for Microsoft Corp, based on a current level of $109.58 and analysts' average consensus price target of $110.23. Microsoft Corp shares have support at the 50-day moving average (MA) of $103.32 and additional support at the 200-day MA of $93.39.

Microsoft Corp share prices have moved between a 52-week high of $111.15 and a 52-week low of $68.09 and are now trading 61% above that low price at $109.58 per share. The 200-day and 50-day moving averages have moved 0.66% higher and 0.83% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Microsoft Corp on April 17th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $95.71. Since that recommendation, shares of Microsoft Corp have risen 14.6%. We continue to monitor MSFT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts microsoft corp

Ticker(s): MSFT