Microsoft shares close higher on Thursday, Terry Myerson to leave the company amid major reorganization

Microsoft Corporation (MSFT) said on Thursday that it was conducting a major reorganization in order to set up two divisions focusing on experiences and devices, and on cloud and Artificial Intelligence platforms respectively. It also became clear that Terry Myerson, the executive vice president for the Windows and Devices group, is to part ways with the tech company.

Microsoft shares closed higher for the second time in the past seven trading sessions on Thursday. The stock went up 2.10% ($1.88) to $91.27, after touching an intraday low at $88.41, or a price level not seen since March 23rd ($87.08).

In the week ended on March 25th the shares of the tech giant lost 7.84% of their market value compared to a week ago, which marked a second consecutive period of decrease. It has also been the worst performance since the week ended on February 7th 2016.

However, due to yesterdays gain, the stock has pared its loss to 2.67% so far during the current month, following a 1.31% slump in February. The latter has been the first monthly retreat since September 2017.

For the entire past year, the shares of the NASDAQ-listed company rose 37.66% following another 12.00% surge in 2016.

“With change comes transition, and one transition we have been planning for is for Terry Myerson to pursue his next chapter outside Microsoft”, Chief Executive Satya Nadella said in an email to employees, cited by CNBC.

“Terry has been instrumental in helping me arrive at this new organizational structure, and I deeply appreciate his leadership and insight as weve worked through the opportunity that lies ahead”, Nadella added.

Rajesh Jha, who currently serves as executive vice president for Microsofts Product group, has been named as head of the Experiences and Devices team, while Scott Guthrie, who currently is executive vice president for the Cloud and Enterprise division, has been appointed as head of the Cloud and AI team.

Meanwhile, Jason Zander has been appointed as executive vice president for Microsofts Azure.

According to CNN Money, the 32 analysts, offering 12-month forecasts regarding Microsoft’s stock price, have a median target of $105.00, with a high estimate of $120.00 and a low estimate of $62.00. The median estimate is a 15.04% surge compared to the closing price of $91.27 on March 29th.

The same media also reported that 26 out of 35 surveyed investment analysts had rated Microsoft’s stock as “Buy”, while 7 – 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 – $91.62
R2 – $91.98
R3 (Range Resistance – Sell) – $92.33
R4 (Long Breakout) – $93.40
R5 (Breakout Target 1) – $94.64
R6 (Breakout Target 2) – $95.27

S1 – $90.92
S2 – $90.56
S3 (Range Support – Buy) – $90.21
S4 (Short Breakout) – $89.14
S5 (Breakout Target 1) – $87.90
S6 (Breakout Target 2) – $87.27

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

Central Pivot Point – $89.44
R1 – $91.79
R2 – $96.41
R3 – $98.76
R4 – $101.12

S1 – $84.82
S2 – $82.47
S3 – $77.85
S4 – $73.24