Traders Look for Near-Term Upside in Microsoft (MSFT) Shares

December 3, 2013 3:46 PM EST
Microsoft (Nasdaq: MSFT) is seeing some downside today, but traders appear to be taking a more favorable tone on the stock.

Market data has money flow on the name at positive $71.9 million with an uptick-to-downtick ratio at 1.4 times.

Short interest on the name recently rose 20 percent to 77.7 million shares, but that is still just 1 percent of public float.

Lots of positive sentiment on Microsoft lately given recent reports of strong Xbox One sales. The company commented today that it was selling just about every unit of the gaming console it can make and its current and prior generation consoles were the top sellers for at least two of the largest U.S. retailers this past weekend.

Shares of Microsoft are down 0.5 percent.

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