- Microsoft (MSFT) is up 0.88% at the close of trading.
- The stock has recovered after a drop following its last quarterly report.
Microsoft shares rebounded after setting a low at $417.65, hitting a session high of $421.11. At the close of trading, Microsoft shares were trading at $419.14, up 0.88% on the day.
Microsoft rebounds and confirms its fundamental strength
Microsoft shares suffered a sharp drop of nearly 18% after reaching an all-time high of $468.35 on July 5. Microsoft’s financial report released on July 30 confirmed the company as one of the best performers in the technology sector by beating expectations with revenues of $64.7 million and earnings per share of $2.95.
Despite these results, its value fell until it rebounded at $358.88 on August 5, starting an upward trend to reach two-week highs at $421.11.
With this recovery, Microsoft confirms its quarterly results and reflects them in its share price, showing itself as an attractive option for investors interested in seeking exposure to the technology sector with fundamental support.
Microsoft Technical Levels
Microsoft shares reacted to the upside on support provided by the August 5 low at $385.58. The nearest resistance is at $448.39, the pivot point from July 23. The next resistance level is at $468.35, the all-time high reached on July 5.
Microsoft daily chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
