- The MSFT share price is currently trading at $329.81.
- The company share has gained 0.59% after three days of declining.
Microsoft Corp. (MSFT) listed on NASDAQ is a computer software and technology company. The firm develops and support software, service, device, and solutions. The company runs its operations through two segments which are Productivity and Business Processes, Intelligent Cloud, and Personal computing. It was established on 4 April 1975 by Bill Gates and Paul Allen.
MSFT Share Price Rises as the Company Reported Its Q4 Results
On 24 October 2023, Microsoft reported its Q4 2024 results where it reported the increase in its revenue which was mainly fueled by AI implementation across its entire tech portfolio. The company also shared that an amount worth 9.1 Billion USD was given to its shareholders in the form of dividends. After the strong performance in its Q4 2024 result, the company share price experienced a gap-up scenario with a surge of 3% in the next trading session.
Microsoft Corp (MSFT) Stock Analysis
The MSFT share price’s current market value is at $329.81 after it gained 0.59% in the last intraday session. The company’s market capitalization is worth 2.451 Trillion USD and has an average 10-day trading volume of 29.2 Million.
Will the Bulls Bounce Back After the Decline in Price?
In price action shows the MSFT stock is trying to make a double bottom pattern and has given a breakout of the descending trendline.
After the company reported its Q1 2024 result, it led the company stock price to experience a gap-up scenario. The price opened above the neckline of the double bottom pattern at $641.64 which is acting as a resistance. As the price opened above the $641.64 level it faced rejection from there and a profit booking scenario was seen.
This led to a price decline of 4.41% in the last three trading sessions. Currently, the price is sustaining above the $326.68 level by making it a support.
The 50-day EMA and 100-day EMA line is just below the price and is acting as a support to stop the price from its further fall. As long as the price is sustained above the EMA lines the bullishness in the MSFT chart will remain.
The Relative Strength Index is at 51.58 and the RSI lines have taken support from its 50 level. This shows that the ongoing selling pressure was interrupted by the buyers who started to influence the price. As of now, the overall RSI points towards the buyer’s presence in the current scenario.
The price is currently sustaining above the $326.68 support and EMA lines which shows the presence of bulls who are not letting the price fall. If the price forms strong bullish candles in the upcoming trading sessions, then it may rise to retest the $341.64 resistance again. The breakout of this level will initiate a bullish rally till its next resistance at $361.90.
The sellers dominated more than the buyers in the last three trading sessions. To continue this domination they must close the price below the EMA lines and $326.68 support and EMA lines. After which they can make the price fall to its next support at $309.56.
Conclusion
The overall trend of the MSFT share price is price. The Future prediction is also bullish if the price forms strong bullish candles above the $326.68 and EMA lines. This will form a strong base for further rise in price. The Technical indicators mentioned above are also bullish as of right now. So the price can perform a bull run in the upcoming trading sessions.
Technical levels
Resistance Levels: $341.64 and $361.90.
Support Levels: $326.68 and $309.56.
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only. They do not provide financial, investment, or other advice. Investing or trading in crypto comes with a risk of financial loss.