Microsoft ( MSFT) develops, licenses and supports software products and services. It designs and sells hardware, and delivers online advertising to the customers. This stock is trading up 5.4% at $32.69 in recent trading. Today's Volume: 56.3 million Average Volume: 48 million Volume % Change: 160% Shares of MSFT are ripping higher today after the company said it earned $5.11 billion, or 60 cents a share, on $17.41 billion in revenue. During the same period last year, MSFT earned $5.23 billion, or 61 cents a share, on sales of $16.4 billion. From a technical perspective, MSFT is gapping up strong today back above its 50-day moving average of $31.62 on monster volume. This move is quickly pushing MSFT within range of triggering a near-term breakout trade. That trade will hit once MSFT takes out some near-term overhead resistance at $32.70 to $32.95 with high-volume. Traders should now look for long-biased trades once MSFT sustains a move or close over those levels on volume that's near or well above 48 million shares. If we get that action today or soon, look for MSFT to trade above $35 in the near future. Microsoft shows up on recent lists of 10 Stocks That Fidelity Funds Are Buying and 10 Stocks That Boosted First-Quarter Mutual Fuind Returns.