Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

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
Money laundering investigator warned of Hunter Biden’s ‘unusual,’ ‘erratic’ payments from China in 2018
next post
Occupational Licensing Harms Workers in Similar Roles

You may also like

Week Ahead: Approach Markets On A Highly Cautious...

April 22, 2023

Trading With the Williams Money Flow Index

August 25, 2023

The Zweig Breadth Thrust Triggers, but the Indicator...

November 11, 2023

Simplify Your Analysis By Using Moving Average Lines

May 18, 2023

This Industry Group Outperformed the S&P 500 by...

December 13, 2023

This Li’l Checkbox is KEY When Comparing Stocks...

December 9, 2023

Putting the Theory into Practice

November 30, 2022

Surge In TSLA And Strong AMZN Is Not...

May 24, 2024

S&P 500 Above 5400: Economic Optimism or Irrational...

June 13, 2024

How RRG Helps To Find Two Pair Trading...

November 24, 2023

    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.

    Recent Posts

    • DAVID MARCUS: Zany Zohran endorsement is existential choice for Hakeem Jeffries

      July 26, 2025
    • FTC firings take spotlight in Trump’s fight to erase independence of agencies

      July 26, 2025
    • DNI Tulsi Gabbard declassified Trump-Russia docs: Here’s what they say

      July 26, 2025
    • Trump signs rescissions package, closes out week with trip to Scotland

      July 26, 2025
    • CHARLIE KIRK: Republicans must seize Gen Z moment or risk losing an entire generation

      July 26, 2025
    • Technology in Hospitality: Innovations Shaping Guest Experiences

      July 26, 2025

    Categories

    • Business (8,580)
    • Investing (2,151)
    • Politics (16,208)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.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 futureretirementsuccess.com | All Rights Reserved