Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Stocks

MSFT Stock At Record High: Is Now the Time to Buy Before It Skyrockets Further?

by November 30, 2023
November 30, 2023
MSFT Stock At Record High: Is Now the Time to Buy Before It Skyrockets Further?

While Microsoft’s (MSFT) Azure contends for the top spot in the cloud computing arena, trailing behind Amazon (AMZN), its $1 billion investment in OpenAI, and the hand it played in resolving the company’s recent debacle, shows how prominently Microsoft is riding the AI tiger.

Investors, too, must be getting the message, as the market has pushed MSFT’s stock beyond its 52-week high threshold.

How To Scan for Stocks Making New 52-Week Highs

In SharpCharts, from Your Dashboard, scroll the Member Tools on the left and click on Sample Scan Library.The New 52-Week Highs scan is the second from the top on the left side.

The stock went above $379.00 in Wednesday’s trading session, and, with no historical resistance ahead, anyone looking to go long might wonder where a good entry price to open a position might be, despite a slight pullback.

At the end of 2022 and the beginning of 2023, MSFT bounced off its 200-week simple moving average. At least that gave bulls a reference point, with both serving as ideal entry points (see weekly chart of MSFT below).

CHART 1: WEEKLY CHART OF MICROSOFT STOCK. The stock is in all-time high territory. Where to from here?Chart source: StockCharts.com. For educational purposes.

But having broken above its all-time high threshold, it’s hard to tell whether MSFT stock is skyrocketing or whether its sky-high valuations are subject to the forces of market gravity.

Also, fundamentally-based projections aren’t much help here—they range anywhere from $390 to $450 a share. So, if you’re looking to go long, it helps to assess whether the stock is currently overbought and if a dip might be forthcoming. For that, we’d have to look at the daily chart of MSFT stock (see below).

If you look at the relative strength index (RSI), now falling from 70, you can spot a slight divergence between the price rise and the RSI declining from “overbought” territory. MSFT may be pulling back now, but it’s too early to tell if the pullback will continue in the coming sessions.

If it does continue to slide, we’re looking at former resistance-turned-support levels as possible prices to anticipate a bullish bounce. This is punctuated by a thickening bullish Ichimoku Cloud, which, if you can remember, provides a range of potential support.

Why the cloud? The wider range complements the specific price support levels of $365 and $350. A pullback to this range, starting at the top-most $365 level and followed by a bounce, might provide you with an optimal entry point to get long MSFT, should you want to add it to your portfolio.

Note January 31, 2024 on your calendar. That’s when MSFT drops its next earnings report. Right now, the buying craze is also centered on its ties with OpenAI. So keep an eye on any developments or news as we count down to January of the new year.

0
FacebookTwitterGoogle +Pinterest
previous post
Top Oversight Democrat slams GOP for keeping Hunter Biden hearing out of public view
next post
More discounts — and pitfalls — await holiday shopping procrastinators

Related Posts

The Fourth Bitcoin Halving Is Upon Us: Is...

March 30, 2024

The Best Technical Indicator for Long-Term Investors

February 24, 2024

Stock Market’s Choppy Action Continues: Focus is on...

June 29, 2024

Decoding PLTR Stock: Why It’s an Attractive Investment

February 8, 2024

The Ultimate Guide to Building a Sector-Diversified Stock...

March 21, 2025

Is it Possible for the S&P 500 to...

September 28, 2023

EQUITIES HIT ALL TIME HIGHS AS TECHNOLOGY JOINS...

May 21, 2024

Despite Stable Markets, Breadth Says Danger

April 10, 2024

Gilead’s Game-Changer: What You Need to Know About...

June 22, 2024

Are the Seven Still Magnificent?

March 1, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Fed Watch: Key Bullish Patterns in the S&P 500, Utilities, and Crypto

    • Three Charts to Watch for an “All Clear” Signal

    • Use This Multi-Timeframe MACD Signal for Precision Trades

    • The Unpredictable Stock Market: How to Make Sense of It

    • Crypto Market Recap: New Hampshire Launches First State Crypto Reserve, Trump Stirs Controversy

    • SAGA Metals Extends Claims at the Radar Ti-V-Fe Project –Securing the Entire Titanomagnetite-Bearing Intrusion

    Categories

    • Business (1,181)
    • Investing (2,402)
    • Politics (3,699)
    • Stocks (1,551)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved