Microsoft is shivering right now as Market keeps going down, however let’s have quick look for a good support to buy its shares. From the past couple of weeks company’s performance is not good, its trading at 36% low year to date, not only Microsoft but majority of IT sector are trading at all time low.
WHY YOU SHOULD HOLD ONTO MICROSOFT
after the Fed reaffirmed a hawkish rate stance last week IT sector is now more weaker and company is consistently trading at low price from last two weeks, one of the main reason for this fall is because the IT market is now under seller’s control and while most of the shareholders are selling there is one hope that buyers will step up to save company to reach all time low.
Company has great profitability, growth, balance sheet power and valuation which makes it a good company and too big to fail, as it may be the great option for long term investment, however right now its offering very great deal to new investors to buy it on sale and current investors to invest now to make their portfolio less stronger. The company is trading now with 39% down which is highest in last 12 years, one should see this as opportunity to buy it on 40% sale.
The shares were finding support at the 10-week moving average. But they’re now breaking below this measure as well as rotating below last week’s low of $243.51.There’s a fairly notable gap-fill level down at $228.6 Below that and the $225 breakout area and the 200-week moving average could be back in play, followed by a retest of the 52-week low at $213.43.
What do you think of Microsoft?
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