New York, NY -- (ReleaseWire) -- 11/10/2012 --PowerShares QQQ Trust Series 1 (ETF) (NASDAQ:QQQ) rose marginally in trading today. QQQ ended the day 0.43% higher at $63.43 on volume of 51.54 million, which is well above the daily average volume of 40.31 million. The ETF fell more than 3% in the last three trading sessions.
QQQ tracks the performance of the NASDAQ 100 Index. The index dropped more than 2% earlier in the week amid worries over the fiscal cliff. The daily price chart for QQQ is giving bearish signals. The ETF is below its 50-day and 200-day moving averages, which is a bearish signal. The MACD histogram is also indicating increasing downward momentum.
Find out where QQQ could be heading by reading the free trend analysis report here: http://www.wallstreetreport.net/market-scan/?symbol=QQQ
Microsoft Corp. (NASDAQ:MSFT) finished nearly flat in trading today even as the technology sector rose sharply today. MSFT ended the day 0.07% higher at $28.83 on volume of 43.28 million. The stock has fallen more than 3% in the last three trading sessions.
MSFT is currently trading close to $28.80 support level. If the stock falls below this level then there could be significant downside potential. The stock’s MACD chart is giving bearish signal at the moment. The stock is also trading well below its 50-day and 200-day moving averages, which is another bearish signal. A strong bearish trend will be established if MSFT falls below $28.80 support level.
Find out when could be a good moment to trade MSFT by reading the free trend analysis report here: http://www.wallstreetreport.net/market-scan/?symbol=MSFT
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Alexander K. Neumann
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