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- Microsoft has recently laid off 559 employees which has now totaled to 2700
- Technical indicators of Microsoft are favoring a downside trend. It is trading near the value of $273.
Microsoft Corporation (MSFT) is one of the biggest technological companies which has hands on every sectors. It is headquartered in Redmond, Washington, and was founded by Bill Gates and Paul Allen in 1975. Over the years, Microsoft has evolved from a software-focused company to a technology giant with a wide range of products and services. Recently Britain’s competition regulators has said that the merger between Activision Blizzard and Microsoft will not hurt the gaming console market. Microsoft has invested in the Openai which has proved to be one of the best investment for them. One of the flagships product of the Microsoft is Chatgpt which has taken the world by storm. They have recently released GPT 4 which is fast and more efficient than the current one.
We gave the data of past 8 years of Microsoft open price of April 1. We asked ChatGpt to use time series method and predict the value for April 1 2023. Time series gave no seasonal pattern so it used the ARIMA model to predict the next number. ChatGpt gave a value of $420 for APR 1 2023 for MSFT.
Are Bears Pushing Down The Price?
Microsoft is one of the biggest companies with a market cap of $2.02 trillion. The weekly technical chart of the MSFT is hinting towards a downside trend in price. On the daily chart it is trading near the value of $272 with a drop of 1.4% in the intraday session. There is a bearish engulfing candles forming in the daily chart. This hints towards a downside mode. The upside trend of MSFT price can see a halt near the value of $280.Meanwhile the support of the asset price can be seen near $260.It is trading above the 50 and 100 Daily Moving Average. There can be a positive crossover which can push the asset price to a new high
RSI of the MSFT is near 57 suggesting its presence in the neutral zone. There is a downside slope in the RSI highlighting towards a downside trend in price.
Conclusion
Microsoft activision deal will not hurt the competition said by the British competition regulators. ChatGpt has predicted that the price of MSFT will be $420 in the April. Various analysts are expecting a weak downside trend in the near future.
Technical Levels
Major Support: $260
Major Resistance: $280
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stocks 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.
