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Microsoft Looks to Continue to Trade Above its Annual-High Share Price Today

Published on Mon, 07/15/2013 - 17:15
By Robert Cotter

Microsoft (NASDAQ:MSFT) traded at a new 52-week high today of $36.00. This new high was reached on below average trading volume as 22.4 million shares traded hands, while the average 30-day volume is approximately 43.3 million shares.

Microsoft share prices have moved between a 52-week high of $36.00 and a 52-week low of $23.65 and are now trading 52% above that low price at $35.97 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.7%.

Microsoft (NASDAQ:MSFT) is currently priced 9.5% above its average consensus analyst price target of $32.56. The stock should find initial support at its 50-day moving average (MA) of $34.36 and further support at its 200-day MA of $29.77.

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.

By Robert Cotter
rcotter@fnno.com