Microsoft to launch AI tools: MSFT stock trading idea 12/04/24

12 апр.

Microsoft is poised to enhance its artificial intelligence capabilities with new features that are scheduled for introduction at the upcoming annual Build conference. In January, CEO Satya Nadella emphasised that 2024 would mark a pivotal year for AI integration across every PC. The agenda for the May conference aligns with this vision, showcasing Microsoft's commitment to expanding AI tools for both personal computers and its Azure cloud service. This strategic focus is driven by the substantial revenue growth witnessed from customers utilising AI models in Azure, prompting Microsoft to develop new AI functionalities specifically for developers.

Now, let's transition to the technical analysis of Microsoft Corporation (NASDAQ: MSFT) to identify potential trading opportunities.

On the Daily (D1) timeframe, the stock has established a support level at 412.80 USD, with resistance noted at 430.80 USD. Microsoft's stock is currently trending strongly upwards, indicating the possibility for further increases if it surpasses the resistance level. Conversely, a break below the support level could lead the stock to retreat to 397.50 USD.

For traders, initiating purchases with a short-term target of 448.00 USD appears promising. For those considering a medium-term investment strategy, holding a long position to reach 470.00 USD could prove beneficial.

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