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- Microsoft’s share price rose 3.76% on Thursday, taking the price to a level of $234.24.
- NYFC: MSFT price is underperforming under a descending parallel channel since its all-time high.
- Market sellers successfully registered a new 52-week low of $219.13 last night.
In October, the share price of Microsoft registered an astonishing rise of 3.76%. This rise could be the start of an upcoming bullish rally, but for this, investors need fresh longs to sustain higher areas.
Although Microsoft Corporation continues to develop its products and launch valuable services for customers. Recently, it introduced 4 of the latest practical tools for content creators to keep work simple and creative. Despite new product launches, Microsoft stock price is yet to perform well.
As of now, buyers barely keep their holding on Microsoft shares. Eventually, swing traders and scalpers have been avoiding bearish markets for the past several weeks. Therefore, asset prices are falling down quickly, in contrast, growth is weak and takes much time for recovery.
Since an all-time high level of $349.67, NYFC:MFST price is underperforming so far. Amid selling, price action forms the higher-lows and lower-highs formation. Thus price fluctuates under a falling parallel channel in terms of the daily price scale. At the time, shere value is observing close to the support line of bearish pattern.
Microsoft Shere May Resist 20 Day Moving Average
Microsoft stock price shows slightly positive pre-market opening by 0.20% at $234.70. After seeing this bullish opening, buyers may continue price recovery on Friday. But the key bullish hurdle of the 20 day moving average is standing just above the current price of MSFT. bulls need to flip this bullsih hurdle into support.
The MFI indicator draws the higher-lows after dipping into the extreme oversold zone on a daily time frame. Besides, MACD is far from the neutral zone.
Conclusion
On behalf of price action, marker sellers have been dominating Microsoft stock price since its all-time high. On the other hand, buyers may push stock prices higher above the 20 day moving average after seeing yesterday’s bullish gain.
Support level – $220 and $200
Resistance level – $250 and $300
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
