The adjustments for MSTR from 173 are nearing completion. Around 150 is strong support, and generally it won’t break through again. After tomorrow night’s Non-Farm Payrolls (NFP) report comes out, most of the recent news catalysts will basically be priced in. Over the next two or three weeks, price will likely keep pushing higher, probing the next phase’s new highs.
In the prior phase, MSTR broke out from the 123 area and then accelerated upward all the way to the 180 resistance zone, around 174. In the next phase, it will then surge from around 150 up toward 194/196. As long as it subsequently holds above the two key levels—157 and 177—that should be sufficient.
The long positions we bottom-fished at 152/151 last night should be held.
In the prior phase, MSTR broke out from the 123 area and then accelerated upward all the way to the 180 resistance zone, around 174. In the next phase, it will then surge from around 150 up toward 194/196. As long as it subsequently holds above the two key levels—157 and 177—that should be sufficient.
The long positions we bottom-fished at 152/151 last night should be held.
