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- Microsoft stock price suggests a weak upside recovery to a new high for the future.
- Technical indicators are favoring an upside momentum for MSFT. It is currently trading near $283
Microsoft corporation is one of the biggest companies in the world. MSFT stock price is a safe haven for various investors. They have hands in various fields from gaming to software. The acquisition of Activision Blizzard was one of the leap for Microsoft.
Microsoft has rebutted against a Federal commission lawsuit to block its acquisition of Activision Blizzard of $75 Billion. The $69 Billion acquisition would give Microsoft means to harm competition in fast growing markets,said by the deputy director of the FTC’s bureau of competition, John Newman.Microsoft announced it has acquired Lumenisity Limited a leader in next generation hollow core fiber solutions.
MSFT has a market cap of more than $1.7 Trillion and is growing more. It is less than 30% from its 52 week high and can soon test it. Various analysts are expecting a strong growth in the fy 2023.
Are Bulls Ready To Push The MSFT Price ?
Microsoft stock price suggests a weak upside momentum for the future. It is slowly moving to cross the $300 threshold. The weekly technical chart of the MSFT suggests a strong upside trend in the future. On coming to the daily chart the asset price is trading near $238.73 and has gain more than 0.3%. The upside trend of MSFT can be seen near $250. The downside trend can see a halt near $200. It is currently trading below the 50 and 100 Daily Moving Average. There can be a positive crossover which can push the price to a new high.
MACD of the Microsoft are hinting a downside momentum in price.Bars of the MACD also suggests a downside trend in price.
Conclusion
Microsoft has been getting in trouble for the acquisition of Activision Blizzard. MSFT is suggesting a consolidated trend in price and can soon see a new high in the future.
Technical Levels
Major Support:$200
Major Resistance: $250
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.
