MicroStrategy Inc. (MSTR) – Elliott Wave Analysis – Trading Lounge Daily Chart
MSTR Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Flat
Position: Wave {c} of 4
Direction: Downside in Wave {c}
Details: The current Elliott Wave analysis suggests a continued decline in Wave {c}, with an ideal target of $213, closely aligning with a potential retest of Trading Level 2 at $200.
MicroStrategy Inc. (MSTR) – Elliott Wave Analysis – Trading Lounge 1-Hour Chart
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 phase of Wave (iv).
- Potential sideways movement forming either a triangle or a complex correction.
- As long as MSTR remains below $300, further downside is anticipated in Wave (v) of {c}.
Technical Analyst: Malik Awais
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Summary
This Elliott Wave analysis of MicroStrategy Inc. (MSTR) evaluates price action on both daily and 1-hour charts, identifying key market movements.
- On the daily chart, Wave {c} is projected to decline toward $213, with a potential test of Trading Level 2 at $200, which may serve as a support level.
- On the 1-hour chart, Wave (iv) is near completion, and further downside below $300 is expected before Wave (v) of {c} concludes.
Traders should closely monitor these critical price levels for potential confirmations or trend reversals.