MicroStrategy has continued to face downward pressure recently but is now showing more decisive signs of an upward move. We still see greater upside potential in the current magenta wave , though we expect the peak to form below resistance at $671.32. Afterward, the bearish wave [c] should complete turquoise wave 2—while still holding above support at $153.49. Wave 3 should then usher in a longer upward phase, with momentum likely to ease only well above the $671.32 level. At the same time, there remains a 33% probability that the stock has already entered this upward phase. In that scenario, turquoise wave alt. 2 would already be complete, and the price would move directly above $671.32 as part of wave alt. 3.
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📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
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🚀 Spot trends early with momentum, sentiment & price structure
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.