(SmarTrend(R) News Watch via COMTEX) -- Microsoft (NASDAQ:MSFT) exchanged inside a range yesterday that spanned from the low of $23.69 to some a lot of $24.02. Yesterday, the shares fell 1.06%, which required the buying and selling range below the three-day low of $23.82 on amount of 47.8 million shares. Frequently occasions after large one-day declines, short-term traders may play for many level of mean revision.
Shares of Microsoft are presently buying and selling below their 50-day moving average (MA) of $25.23 and below their 200-day MA of $26.02. Search for the MA to supply resistance for any short-term rebound within the shares.
SmarTrend presently has shares of Microsoft within an Downtrend and released the Downtrend alert on May 17, 2011 at $24.48. The stock has fallen 2.1% because the Downtrend alert was released.
SmarTrend needs the share cost to rebound toward the $23.82 resistance level. Later on, we expect it to maneuver downward using its peers within the SmarTrend Software industry.
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