No Concerns In Sight For Microsoft Corporation (MSFT), Chevron Corporation (CVX) - The RNS Daily

Over the past 52 weeks, the shares of Microsoft Corporation (NASDAQ:MSFT) has been trading as low as $83.83 before witnessing a massive surge by 26.05% or $21.84. This price movement has led to the MSFT stock receiving more attention and has become one to watch out for. It jumped by 0.38% on Sunday and this got the market excited. The stock’s beta now stands at 1.2 and when compared to its 200-day moving average and its 50-day moving average, MSFT price stands 0.61% above and 0.77% above respectively. Its average daily volatility for this week is 1.66% which is less than the 1.79% recorded over the past month. The shares of Microsoft Corporation dropped by -9.05% or -$10.51 from its last recorded high of $116.18 which it attained on October 03 to close at $105.67 per share.

Microsoft Corporation (MSFT) rose 2.81% this week, a trend that has led to both investors and traders taking note of the stock. Over the past one year, the equity price has embarked on a rally that has seen it rise 17.92% and is now up by 4.04% since start of this year. A look at its monthly performance shows that the stock has recorded a 1.34% gain over the past 30 days. Its equity price dipped by -1.9% over the past three months which led to its overall six-month decrease to stand at -3.49%.

Experts from research firms are bullish about the near-term performance of Microsoft Corporation with most of them predicting a $125.79 price target on a short-term (12 months) basis. The average price target by the analysts will see a 19.04% rise in the stock and would lead to MSFT’s market cap to surge to $961.04B. The stock has been rated an average 1.6, which roughly stands towards the bullish end of the spectrum. Reuters looked into the 34 analysts that track Microsoft Corporation (NASDAQ:MSFT) and find out that 2 of them rated it as a Hold. 31 of the 32 analysts rated it as a Buy or a Strong Buy while 1 advised investors to desist from buying the stock or sell it if they already possess it.

A look at MSFT technical analysis shows that its 14-day Relative Strength Index (RSI) is in a neutral zone after reaching 50.76 point. Its trading volume has lost -17000000 shares compared to readings over the past three months as it recently exchanged 21223347 shares. This means there is reduced activity from short-term traders as per session, its average trading volume is 38720000 shares, and this is 0.55 times the normal volume.

The price of Chevron Corporation (NYSE:CVX) currently stands at $117.58 after it went down by $-0.65 or -0.55% and has found a strong support at $116.37 a share. If the CVX price drops below that critical support, then it would lead to a bearish trend. In the short-term, a dip below the $115.16 mark would also be bad for the stock as it means that the stock would plunge by 2.06% from its current position. However, if the stock price is able to trade above the resistance point around $118.34, then it could likely surge higher to try and break the upward resistance which stands at $119.1 a share. Its average daily volatility over the past one month stands at 1.61%. The stock has plunged by 1.41% from its 52-weeks high of $115.92 which it reached on May. 14, 2018. In general, it is 14.76% above its 52-weeks lowest point which stands at $100.22 and this setback was observed on Dec. 26, 2018.

Analysts have predicted a price target for Chevron Corporation (CVX) for 1 year and it stands at an average $135.65/share. This means that it would likely increase by 15.37% from its current position. The current price of the stock has been moving between $115.92 and $117.89. Some brokerage firms have a lower target for the stock than the average, with one of them setting a price target as low as $122. On the other hand, one analyst is super bullish about the price, setting a target as high as $160.

Analysts view Chevron Corporation (NYSE:CVX) as a Buy, with 2 consensus rating. Reuters surveyed 23 analysts that follow CVX and found that 5 of those analysts rated the stock as a Hold. The remaining 18 were divided, with 18 analyst rating it as a Buy or a Strong Buy while 0 analysts advised investors to desist from buying Chevron Corporation (CVX) shares or sell it if they already own it.

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