Shares of Microsoft Corp. (NAS:MSFT) rose 0.7% and Alphabet Inc.'s stock (NAS:GOOGL) climbed 1.4% in morning trading Thursday, making then the first of the mega-capitalization technology companies to trade back above their respective 50-day moving averages (DMA). Microsoft's and Alphabet's stocks both first closed below their respective 50-DMAs, which many on Wall Street use as a guide to the short-term trend, on Sept. 28, which was Microsoft's first close below that key technical level since June 3 and Alphabet's first close below it since Jan. 15. Microsoft's 50-DMA currently extends to $294.56 and Alphabet's comes in at $2,784.92, according to FactSet. Meanwhile, Apple Inc. stock (NAS:AAPL) is 2.5% below its 50-DMA, Amazon.com Inc.'s stock (NAS:AMZN) is 1.5% below its 50-DMA and Facebook Inc.'s stock (NAS:FB) is 6.7% below its 50-DMA. The tech-heavy Nasdaq 100 (AMERICAN:NDX) , the S&P 500 (S&P:SPX) and the Dow Jones Industrial Average (DOW:DJIA) are also still below their 50-DMAs.
Oct. 7, 2021, 10:03 a.m. EDT