MICROSOFT CORP. - Microsoft Corporation (symbol ‘MSFT’) - 01/17/2024 (GMT)

Microsoft Corporation (symbol ‘MSFT’) share price experienced some gains in the last quarter of the year with the majority of the bullish rally happening in November. The company’s earnings report for the fiscal quarter ending December 2023 is expected to be released on Tuesday 23rd of January. The consensus EPS is $2.75 against $2.32 of the same quarter last year.

‘As of Friday the 12th of January, Microsoft surpassed Apple as the world’s most valuable company by market cap as it was valued at $2.89 trillion versus Apple’s $2.88 trillion. Microsoft’s stock has been boosted by optimism over a $10 billion investment in OpenAI, meanwhile Apple has struggled amid legal troubles, slowing demand for electronics and more. The company also displays a solid financial image, as one would expect from the tech giant. As of 30/09/2023 the total assets grew by around 24% year over year while the current ratio is at around 166% showing the ability of the company to overcome any short term turmoil.’ said Antreas Themistokleous, trading specialist at Exness.
 
Technical analysis shows that the price has been testing the resistance of the upper band of the Bollinger bands for the last 4 sessions but has yet to correct to the downside. This indicates that volatility in the market for the share of the tech giant is fueled up. To further add to the bullish narrative we also see the 50 day moving average trading well above the 1oo day moving average validating the bullish trend. On the other hand the Stochastic oscillator is recording extreme overbought levels and possibly hinting that a correction might be seen in the coming sessions.