Upgrade Alert for Microsoft (MSFT)
Microsoft (NASDAQ:MSFT) was upgraded from Market Perform to Outperform at Cowen and Company today. The stock closed yesterday at $51.59 on volume of 34.6 million shares, above average daily volume of 30.3 million.
Microsoft (NASDAQ:MSFT) has potential upside of 8.2% based on a current price of $51.59 and analysts' consensus price target of $55.84. The stock should hit resistance at its 50-day moving average (MA) of $53.28, as well as support at its 200-day MA of $50.70.
Over the past year, Microsoft has traded in a range of $39.72 to $56.85 and closed yesterday at $51.59, 30% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.3%.
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.
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: analyst upgrades/downgrades Microsoft