Microsoft shares retreat for a second session in a row on Monday, an AI co-processor reportedly being in development

Microsoft Corporation (MSFT) was reported to be developing an AI-based co-processor for the next version of the companys HoloLens Augmented Reality headset.

Microsoft shares closed lower for a second consecutive trading session on Monday. The stock edged down 0.26% ($0.19) to $73.60, after touching an intraday low at $73.13, or a price level not seen since July 18th ($72.66). In the week ended on July 23rd the shares of the tech giant added 1.39% to their market value compared to a week ago, which marked a third consecutive period of gains. The stock has pared its advance to 6.77% so far during the current month, following a 1.30% slump in June. The latter has been the first drop in the past four months and also the steepest one since June 2016. For the entire past year, the shares of the NASDAQ-listed company gained 12.00%.

The new processor represents an updated variation of Microsofts Holographic Processing Unit and is expected to process the AI images and sounds in the headset, which would save battery power and time. Previously, all the information was sent off to the cloud for processing purposes.

According to CNN Money, the 32 analysts, offering 12-month forecasts regarding Microsoft’s stock price, have a median target of $77.00, with a high estimate of $83.00 and a low estimate of $45.00. The median estimate is a 4.62% surge compared to the closing price of $73.60 on July 24th.

The same media also reported that 24 out of 35 surveyed investment analysts had rated Microsoft’s stock as “Buy”, while 9 – as “Hold”. On the other hand, 1 analyst had recommended selling the stock.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, today’s levels of importance for the Microsoft stock are presented as follows:

R1 – $73.66
R2 – $73.71
R3 (Range Resistance – Sell) – $73.77
R4 (Long Breakout) – $73.94
R5 (Breakout Target 1) – $74.14
R6 (Breakout Target 2) – $74.22

S1 – $73.54
S2 – $73.49
S3 (Range Support – Buy) – $73.43
S4 (Short Breakout) – $73.26
S5 (Breakout Target 1) – $73.06
S6 (Breakout Target 2) – $72.98

By using the traditional method of calculation, the weekly levels of importance for Microsoft Corporation (MSFT) are presented as follows:

Central Pivot Point – $73.58
R1 – $74.51
R2 – $75.22
R3 – $76.15
R4 – $77.07

S1 – $72.87
S2 – $71.94
S3 – $71.23
S4 – $70.51