Stoxline.com predicts $37 in six months.
Anticipation is building for Windows 8's October release. Based on Windows 7's schedule, 8 should be in manufacturers' hands in late July. Windows 7 was available worldwide on October 22, 2009.
iStock thinks Vista might be a better comparable a 7 was considered an incremental upgrade to the Windows line. Vista was released globally on January 30, 2007.
In 2009, MSFT hit an intermediate high right before the July manufacturer release date and resumed its climb up the mountain in September. After the official release, MSFT shares settled back, only to reach its peak in December. From bottom to top, the price a little more than doubled from $14 to $30.
Much like 2009, in the year of Vista, Microsoft hit its bottom in March and rallied into July, only to crash to slightly above March's low. If memory serves, and Google confirms, Vista was delayed for various reasons. When it OS was finally released to OEM, shares rocketed up from $21.50 to $25 in a matter of weeks, ultimately peaking there in late January 2006.
With history as our guide, iStock would expect MSFT shares to gain ground as Windows 8 is released to manufactures in July, settle back, and then hit their peak around the first of the year.
iStock thinks a return trip to the year's high of $32.95 is likely. If bulls can pull Mr. Softy past $34, it can be off to the races as it will be trading in open technical space with no overhead resistance after reaching a new, all-time high.
Hey. Kinda of curious of your take on Bank of America and why it is trading so low in comparison to its American and Canadian counterparts ? And do you think it would be a good buy ?
I am considering buying BAC(Bank of America).
Shall appreciate your comments.
The thing that concerns iStock about Bank of America Corporation (BAC) is JP Morgan's trading loss. BAC strong trading results were a big part of the company's most recent earnings success. In the rush to "do something", iStock worries that politicians, who are mostly lawyers by trade and not bankers, might try to enact legislation to restrict TARP banks' trading desks. If that's the case, it's one less avenue for BAC to make money.
Of course, exposure to the European debt crisis is a concern; however, Federal Reserve Bank of Philadelphia President Charles Plosser said in an interview with The Wall Street Journal that US financial institutions have already cut their European exposure, and the Fed stands at the ready to bail again, if necessary.
As for its current situation, BAC's internals are moving in the right direction with relative strength picking up, a bullish MACD crossover, and momentum building. The price may have bottomed around $6.75 and have initial resistance near $7.60, but look destined for $8.
We will have part two of our recent request later today or on Wednesday.
The information in this article is iStock Analyst take on different
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