Microsoft Corporation (NASDAQ:MSFT) Stock Takes A Beating On The Daily Chart
Microsoft Corporation (NASDAQ:MSFT) stock continued floundering during Thursday’s trading session. Shares of Microsoft have been on a roller coaster descent since reaching a high of $31.58 on April, 23rd. Yesterday’s close of the company left MSFT stock at $25.37, showing that there was no support to be found at $25.35 on July, 30th. Additionally, going back to the previous week before this, no support was found at $25.25 from July, 23rd either.
A retrace of Microsoft stock looks on order, but a long-term projection looks much better. At this time, shares have been unable to post a new high since April of this year. A short-term optimal projection is sideways movement instead of simply witnessing decreasing share price. There are a few technical figures that show conflict. These include on balance volume (OBV) which slipped under support yesterday, stochastic is falling briskly from overbought, yet there is substantial short-term positive divergence found on MACD although momentum is clearly decreasing.
Microsoft Corporation (NASDAQ:MSFT) Stock Is Better Positioned On The Weekly Chart
Switching over from the daily chart to a weekly chart, this is where things look much better for investors of Microsoft. During the current term, this may pose as a discount buying bonanza for investors looking to load up on MSFT stock. $30.00 looks to be a realistic target price for the long haul. Bearish momentum from May & June has been stalled during July trading. August has just began and OBV is at a level where Microsoft was formerly being traded around the $30 dollar region, and stochastic is riding the oversold level. This is in no way a suggestion to enter a position.