Microsoft Shares Gain 1.5% as Nadella Announces Launch of SQL Server 2014
Shares of Microsoft (NASDAQ: MSFT) are vastly outperforming the Nasdaq in Tuesday's trading, up 1.5 percent to $39.77.
News crossed the wires an hour ago that the company has launched SQL Server 2014. At a customer event in San Francisco, CEO Satya Nadella outlined the company's path to deliver a platform for ambient intelligence.
The stock has been outperforming in 2014, up 6.2 percent year-to-date.
Shares found support Monday at $38.90, just below the 61.8 percent Fibonacci of March's range (39.02).
So far, Tuesday's move has been on relatively low volume.
Microsoft's monthly candle is bullish, the weekly candle is bearish and the daily candle is bullish, giving traders mixed signals. However, the monthly candle generally hold more weight.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.