Technical Analysis on MicroStrategy (MSTR)

Monday, October 7th, 2024

This video was recorded on October 7th, but the key levels remain important and relevant.

If you have any questions or suggestions feel free to comment below.

Trade Plan for MicroStrategy (MSTR) for week of October 21st. 

Key Levels & Signals:

1. Bullish Signal Trigger:
   • MSTR got the buy signal during the week of Oct 7th by closing above resistance level by a margin of at least 1%.
   • Upon confirmation, we anticipate a 30-40% price gain, potentially reaching $264.21 (the rising channel top), within the next 1-2
     months. This move could extend into early next year, possibly reaching 280's-290's as the rising channel top advances $2.14 per week.
   •  
2. Upside Targets:
   • MSTR hit our initial resistance level - the March high at $199.99.
   • Beyond $199.99, sustained bullish momentum could see MSTR climbing towards $264.21, with the potential for gains as high as 50% over a longer timeframe of 3-5 months.

1. Downside Risks:
   • If MSTR closes below the $184.90 channel top, this is your signal to exit positions.
   • In this scenario, the stock may be vulnerable to a pullback, potentially retracing to the September low support at $114.30 over the next several months.