Microsoft shares close higher on Friday, sales of the original Xbox One reportedly abandoned

According to a post by The Verge, sales of Microsofts original Xbox One gaming console may have been abandoned by the tech company. Despite that some refurbished models of the console can still be observed in Microsofts official on-line stores, the Xbox One S and the Xbox One X are the only models categorized as new. Pre-orders of the two console versions were initiated during the third week of August.

Microsoft shares closed higher for the second time in the past five trading sessions on Friday. The stock edged up 0.18% ($0.13) to $72.82, after touching an intraday high at $73.35, or a price level not seen since August 17th ($73.87). In the week ended on August 27th the shares of the tech giant added 0.46% to their market value compared to a week ago, which marked the first gain in the past five weeks. The stock has neutralized earlier losses and is now up 0.17% so far during the current month, following a 5.47% surge in July. The latter has been the fourth gain in the past five months and also the steepest one since July 2016. For the entire past year, the shares of the NASDAQ-listed company gained 12.00%. The stock has risen 17.19% so far in 2017.

On Friday Microsoft said that the Xbox One X was its “fastest selling pre-order ever”. However, the company did not disclose more details.

”In both new and preowned, we’re seeing underperformance in Xbox One versus PS4, which we believe is due to the coming Xbox One X launch”, Robert Lloyd, Microsofts Chief Financial Officer, was quoted as saying by Seeking Alpha.

Meanwhile, production of the companys Xbox 360 gaming console was discontinued in 2016 approximately when the Xbox One S was scheduled for launch.

According to CNN Money, the 32 analysts, offering 12-month forecasts regarding Microsoft’s stock price, have a median target of $82.00, with a high estimate of $90.00 and a low estimate of $49.00. The median estimate is a 12.61% surge compared to the closing price of $72.82 on August 25th.

The same media also reported that 23 out of 34 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 – $72.90
R2 – $72.98
R3 (Range Resistance – Sell) – $73.06
R4 (Long Breakout) – $73.30
R5 (Breakout Target 1) – $73.58
R6 (Breakout Target 2) – $73.69

S1 – $72.74
S2 – $72.66
S3 (Range Support – Buy) – $72.58
S4 (Short Breakout) – $72.34
S5 (Breakout Target 1) – $72.06
S6 (Breakout Target 2) – $71.95

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

Central Pivot Point – $72.62
R1 – $73.55
R2 – $74.27
R3 – $75.20
R4 – $76.12

S1 – $71.90
S2 – $70.97
S3 – $70.25
S4 – $69.52