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- Microsoft has deployed over $69 Billion to acquire video game giant Activision Blizzard.
- Technical indicators of MSFT stock price are favoring the bulls. It is currently near $255
Corporate lawyers of Microsoft are ready to defend Microsoft Activision deal in court, if the Federal Trade Commission (FTC) file an antitrust lawsuit. As per the bloomberg sources they revealed that the companies has not yet offered concessions to FTC in order to approve this deal. The acquisition is worth over $69 Billion. This acquisition will help the Microsoft to gain more and increase its market cap. Activision Blizzard’s EVP of Corporate Affairs and CCO Lulu Cheng Meservey has recently tweeted that the company wouldn’t hesitate to go to court if regulators block the deal. Various are analysts are excited about this deals.
Microsoft has a market cap of $1.9 Trillion with a PE ratio of 25.86. MSFT stock price is still far away from its 52 week high and can cross the threshold soon.
Bulls Are Ready To Push MSFT Stock Price
The weekly technical chart of the MSFT stock price suggests a weak upside trend. On coming to the daily chart the asset price is trading near the value of $255 with a gain of 0.3%. Resistance of Microsoft stock price can be seen near $300. Meanwhile the support of the asset price can be seen near $200. The asset price is currently trading above 50 and 100 Daily Moving Average. There is a positive crossover in asset price suggesting a strong upside for the future.
RSI: RSI of the MSFT stock price is near 65 suggesting its presence in the overbought zone.The overall sentiment of the RSI is bullish.
Conclusion
Microsoft is all set to acquire Blizzard but has several hurdles on their way. MSFT stock price is currently looking to jump for a new high.
Technical Levels
Major Support:$200
Major Resistance: $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 the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
