By: Stephanie Brown
Microsoft Corporation (NASDAQ:MSFT) is not planning to unveil any flagship Windows Phone at next year’s MWC conference, which will take place in Barcelona from March 2 to March 5. Prior to the big event, Microsoft will reportedly release a low-end smartphone that will be used primarily to tap into emerging markets. The new low-end smartphone, Lumia 6-series should has been mooted as a possible successor of the current Lumia 625. Last month, the giant software maker announced that it was planning to unveil two smartphones, the Lumia 535 already on the market in India, with the other one thought to be the Lumia 1330.
A filing on the FCC shows that the budget device will come with a dual-Sim 3G support and a 4-inch display without LTE support. Despite the uncertainty about Microsoft’s next mega product, claims are rampant that the company still has something in the pipeline that is codenamed McLaren. The proposed flagship smartphone will reportedly feature gesture-support, which will allow users to navigate their phones without touching the display.
Various sources had suggested that Microsoft was planning to release the gesture-support phone by the end of the year, but it appears highly unlikely as the rumors have since died down. Problems related to its 3D technology have been stated as the reason behind the apparent delay.
Microsoft has been trading below its moving averages of 50-SMA and 200-SMA, which stand at $46.35 and $47.30 respectively. When looking at the 15-minute chart, the overall trend is down and should continue in short-term. Currently the stock is taking support at $43.5 and $41.5 on the downside, while facing strong resistance at $47, $49 on the upside.
Sell Microsoft Corporation (NASDAQ:MSFT) below $45 for target of $44.5, $44 with a stop-loss of $45.20.