Microsoft Stock Blasts Off To New All-Time Highs

After breaking the resistance at the $290 level, shares of Microsoft Corporation MSFT have blasted off and are trading at new all-time highs.

Stocks often make large moves after breaking an important resistance level. This is because the breaking of the levels shows that the sellers who created the resistance have left the market.

See Also: Microsoft To Raise Commercial Office 365 Subscription Price In 2022

Because of the lack of supply of shares, buyers are forced to pay higher prices. This dynamic forces the stock into rally mode and that is what happened here.

The move is being driven by the news that the company will be raising the prices of Office 365 subscriptions next year.

The stock trades around $303.70 at publication time.