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- Microsoft has launched a new workspace test that will let you share the browser tabs
- MSFT bulls are favoring a strong upside trend in price. It is currently trading near $291 with a gain of 2.55% in the intraday session.
Microsoft is one of the biggest tech giants which has ruled the market for a long time. Microsoft has also made large significant investments in Artificial intelligence over the past few years. One of the most significant investments by them can be considered as OpenAi. They have been utilizing their expertise in AI to develop products like Azure Cognitive Services which led developers to add new features and applications. They have also been developing tools like automated email response and enhanced productivity suite in Microsoft Office. Microsoft will now let users share browser tabs in real time. Meanwhile, Palantir has expanded its Microsoft Cloud computing pact to government agencies. Various analysts are expecting strong growth in the asset price in the future.
.Microsoft has a market cap of 2.171 T and can see strong growth in the future. It has a PE ratio of 31.56 with an EPS of 9.9. MSFT stock price is just a few inches away from the 52-week high. It may see a strong trend in the future.
Bulls Of MSFT Are Ready For A New High
Microsoft has been forming bullish engulfing candles on the weekly technical chart.It has seen a gain of more than 20% in the past few days. On the daily chart, it is currently trading near the value of $291 with a gain of 2.5% in the intraday session. MSFT price is forming strong bullish candles on the daily chart. The upside trend of MSFT can see a halt near the value of $300.Meanwhile, the support of the asset price can be seen near $275. The asset price is trading above the 50 and 100 Daily Moving Averages. There can be a positive crossover which can push the asset price to a new high in the future.
MACD of MSFT price is hinting towards a consolidated bullish trend in price. There is a formation of green histograms in MACD which are also favoring a bullish trend in price.
Conclusion
Microsoft has been investing in AI for a long time which has benefited them with the various projects. MSFT stock price is currently on the rise and may see a breakout beyond the 52-week high.
Technical Levels
Major Support:$275
Major Resistance:$300
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 assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
