MICROSOFT STOCKS FALL DESPITE RATING UPGRADES
Microsoft Corp.’s stock is currently trading at 136.11-lower by 0.74% as compared to the previous closing price. In the pre-market trading session, the stock was trading higher by 0.10%. The stock has pared all of its earlier gains and turned negative after the opening bell.
Investment bank Jefferies upgraded the tech giant’s stock. The investment bank upgraded the stock’s rating to buy from hold. Jefferies also raised its price target on stocks of Microsoft to $160 per share from $93 a share. The investment bank upgraded the tech-giant’s stock saying Microsoft is now a large diversified business with a clear path to double-digit revenue growth for the foreseeable future. Jefferies also sees multiple growth drivers within the tech giant, including Azure, Office and LinkedIn. The investment bank also called Microsoft the safest large-cap investment option.
On the technical front, the RSI is currently at 46.01% and suggests that the market can move in the downward direction. The current price is below the MA5. The current price is below the middle line of the Bollinger Bands and is heading downwards.
TRADE SUGGESTION- LIMIT SELL AT 136.40 TAKE PROFIT AT 135.60 STOP LOSS AT 136.80