MicroStrategy Inc. (MSTR) Elliott Wave technical analysis [Video]

Peter Mathers TradingLounge

MSTR Elliott Wave technical analysis

Function: Counter Trend.
Mode: Corrective.
Structure: Flat.
Position: Wave {c} of 4.
Direction: Downside in Wave {c}.
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

Function: Counter Trend.
Mode: Corrective.
Structure: Flat.
Position: Wave (iv) of {c}.
Direction: Downside in Wave (v) of {c}.
Details:
- Currently in the final stages of Wave (iv).
- Possible continuation sideways, forming a triangle or complex correction.
- As long as MSTR trades below $300, further downside in Wave (v) of {c} is expected.

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.

On the daily chart, Wave {c} is expected to reach $213, potentially testing Trading Level 2 at $200, which may act as support.
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]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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