Benzinga - by Zaheer Anwari, Benzinga Contributor.
- Over the last decade, Microsoft's stock has demonstrated substantial growth, rising 974%, highlighting its potential as a stable investment for long-term portfolios.
- The stock is currently stabilizing at a $420 support level, suggesting the possibility of another sustained upward trend.
The past few months have been strong for Microsoft Corp (NASDAQ: MSFT). It has formed an uptrend where the stock climbed by 11%, peaking at 14%. The trend began to unfold in January 2024, when the stock surged past the high of 2023 at $384, signaling a decisive victory for buyers pushing the market upwards.
January also witnessed the stock breaking past the psychological $400 resistance. Looking back at 2023, the stock rose by 57%. However, 2022 tells a contrasting story, as the stock experienced a 28% decline while being trapped inside a period consolidation, ranging between $215 and $349.
Taking a long-term view of Microsoft's stock offers an overall perspective on its performance. Its 974% growth over the past decade paints a picture of a stock that's a solid pick for long-term portfolios.
Witnessing a 38% plunge from November 2021 to November 2022, the stock certainly faced its share of challenges. However, bouncing back with an impressive 96% recovery from its lows, Microsoft showcased its resilience to overcome setbacks.
The stock is currently holding at a $420 support level. Should this support level hold strong, investors might just be on the cusp of witnessing another strong long-term upward trend.
After the closing bell on Monday, April 1, the stock closed at $424.57, trading up by 0.91%.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.
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