Has Microsoft hired another boost for its stock?
Microsoft Corporation now employs Sam Altman, the recently fired head of OpenAI, which developed ChatGPT. This new hire is expected to contribute to the company's advancements in artificial intelligence, which is currently garnering close attention from the media and investors. Undoubtedly, AI will shortly become an integral part of our lives and bring stable income for the developers of this technology.
So, let's see what is happening on the Microsoft Corporation (NASDAQ: MSFT) stock following these recent events.
Yesterday, 20 November, on the D1 timeframe, the resistance at 376.49 was breached, and support moved to 367.00. An upward trend in this timeframe has been observed since the end of October 2023.
On the H1 timeframe, there may still be some growth potential following the breakthrough of resistance on D1, with a target at 385.85.
In the medium term, the target could hover around 402.45, which is the approximate fair value of the stock based on the P/S multiplier (the ratio of capitalisation to revenue), as outlined in Microsoft's latest quarterly report.
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Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
So, let's see what is happening on the Microsoft Corporation (NASDAQ: MSFT) stock following these recent events.
Yesterday, 20 November, on the D1 timeframe, the resistance at 376.49 was breached, and support moved to 367.00. An upward trend in this timeframe has been observed since the end of October 2023.
On the H1 timeframe, there may still be some growth potential following the breakthrough of resistance on D1, with a target at 385.85.
In the medium term, the target could hover around 402.45, which is the approximate fair value of the stock based on the P/S multiplier (the ratio of capitalisation to revenue), as outlined in Microsoft's latest quarterly report.
—
Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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