MicroStrategy Inc. (MSTR) Elliott Wave technical analysis [Video]
|MSTR Elliott Wave technical analysis
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Function: Counter Trend.
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Mode: Corrective.
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Structure: Flat.
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Position: Wave {c} of 4.
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Direction: Downside in Wave {c}.
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Details: Expecting a continuation lower in Wave {c}, with an ideal target at $213, aligning with a potential retest of Trading Level 2 at $200.
MSTR Elliott Wave technical analysis
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Function: Counter Trend.
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Mode: Corrective.
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Structure: Flat.
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Position: Wave (iv) of {c}.
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Direction: Downside in Wave (v) of {c}.
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Details:
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Currently in the final stages of Wave (iv).
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Possible continuation sideways, forming a triangle or complex correction.
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As long as MSTR trades below $300, further downside in Wave (v) of {c} is expected.
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Summary
This analysis examines MicroStrategy Inc. (MSTR) using Elliott Wave Theory on both the daily and 1-hour charts, identifying key market trends and potential movements.
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On the daily chart, Wave {c} is expected to reach $213, potentially testing Trading Level 2 at $200, which may act as support.
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On the 1-hour chart, Wave (iv) is near completion, with a likely continuation below $300 before Wave (v) of {c} completes.
Traders should monitor these key levels for potential confirmations or reversals.
MicroStrategy Inc. (MSTR) Elliott Wave technical analysis [Video]
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