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Look for Shares of Microsoft Corp to Potentially Rebound after Yesterday's 1.72% Sell Off

Mar 23, 2020 (SmarTrend(R) News Watch via COMTEX) --
Microsoft Corp (NASDAQ:MSFT) traded in a range yesterday that spanned from a low of $134.25 to a high of $140.57. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $135.02 on volume of 28.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Microsoft Corp share prices have moved between a 52-week high of $190.70 and a 52-week low of $102.77 and are now trading 31% above that low price at $134.99 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 1.1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Microsoft Corp on February 24th, 2020 by issuing a Downtrend alert when the shares were trading at $167.95. Since that call, shares of Microsoft Corp have fallen 18.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Write to SmarTrend at cs@mysmartrend.com

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