Microstrategy Stock Price: MSTR Stock Gave Breakout What Next?

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Microstrategy Stock Price
  • Microstrategy stock price has sat up above the 20, 50, and 200- days Exponential Moving Average.
  • Microstrategy’s stock price is currently trading at $127.90.
  • Microstrategy (MSTR)’s live market cap is $4.90 billion.

MicroStrategy Incorporated is a public corporation that focuses on business intelligence, mobile applications, and cloud-based services. MicroStrategy, founded in 1989, has established itself as a major provider of enterprise analytics and mobility solutions. Organisations may use the company’s software to analyse vast volumes of data and acquire useful insights to help strategic decision-making.

MicroStrategy is well-known for its creative approach to data analytics and commitment to assisting organizations in harnessing the power of data. MicroStrategy 2021, the company’s main product, is a complete package of tools and features aimed to provide users with easy data visualization, interactive dashboards, and powerful analytics capabilities.

Trend Analysis

After a careful look, it comes to light that MicroStrategy (MSTR) is now experiencing a significant bull run. MSTR’s price has been bound to a  narrow range during the last year. However, a recent major breakthrough with considerable momentum has shifted market dynamics.

After reaching a high of $1315 in February 2023, the price fell dramatically, falling by almost 90% to around $138. Surprisingly, the price found support at this level, forming a well-defined channel with limits ranging from $138 to $353.

The recent breach from this channel indicates an important trend reversal and has encouraged confidence among market players. Furthermore, the market movement has formed an attractive pattern, strengthening the bullish mood toward MSTR. 

Microstrategy (MSTR) Stock Price Analysis

Microstrategy Stock Price
Source: MSTR/USD.1D.NASDAQ by TradingView

MicroStrategy (MSTR) technical analysis shows that the 20, 50, and 100-day Exponential Moving Averages (EMA) are all trading above the price, indicating that the stock is gaining momentum. This points to a possible upward rise in the short term.

Moving Average Convergence Divergence (MACD) is also showing a bullish trend, with the MACD line above the signal line. This adds to the likelihood of an upward increase in the stock price.

Furthermore, the Relative Strength Index (RSI) is pointing up, indicating that it has not yet hit the overbought zone. This suggests that there is still space for the stock to rise higher.

In addition, market volume is increasing, indicating higher purchasing activity and the possibility of a stock price gain. This indicates that purchasers are actively engaged in the present market circumstances.

Conclusion 

Lastly, the general momentum of MicroStrategy (MSTR) is now good, with several indices favoring upward movement. A bullish trend is indicated by the 20, 50, and 100-day Exponential Moving Averages (EMA) trading above the price, as well as the MACD producing a positive pattern above the signal line. The Relative Strength Index (RSI) also suggests strength towards the upside, while the growing volume reflects active involvement and the possibility for a stock gain. Given these considerations, the overall picture for MicroStrategy (MSTR) looks to be favorable for upward growth. 

Technical Levels:

  • Support – The current support level of Microstrategy (MSTR) is $138.70.
  • Resistance -The current resistance level of the Microstrategy (MSTR) is $353.95.

Disclaimer

The views and opinions of the author, or anyone named in this article, are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.

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