Welcome to our latest Elliott Wave analysis for MicroStrategy Inc. (MSTR) as of June 18, 2024. This analysis provides an in-depth look at MSTR's price movements using the Elliott Wave Theory, helping traders identify potential opportunities based on current trends and market structure. We will cover insights from both the daily and 4-hour charts to offer a comprehensive perspective on MSTR's market behavior.
MSTR Elliott Wave Analysis Trading Lounge Daily Chart
MicroStrategy Inc., (MSTR) Daily Chart Analysis
FUNCTION: Counter Trend
MODE: Corrective
STRUCTURE: Flat
POSITION: Minute {iv}
DIRECTION: Bottom in wave {iv}
DETAILS: Looking for a bottom in wave {iv} to then continue higher in wave {v} of 1 or else there is a case we are in Minor wave 5 and we could be topping in wave (5).
MSTR Elliott Wave Technical Analysis – Daily Chart
In our Elliott Wave analysis of MicroStrategy Inc. (MSTR), we observe a counter-trend corrective pattern characterized by a flat structure. MSTR is currently positioned in minute wave {iv}, suggesting a potential bottom in wave {iv}. This bottom could lead to a continuation higher into wave {v} of 1. However, there is also a scenario where we might be in Minor wave 5, and if this is the case, MSTR could be approaching a top in wave (5). Traders should watch for confirmation of the bottom in wave {iv} to assess the likelihood of an upward move in wave {v}. This could provide strategic entry points if the anticipated trend unfolds as expected.
MSTR Elliott Wave Analysis Trading Lounge 4Hr Chart
MicroStrategy Inc., (MSTR) 4Hr Chart Analysis
MSTR Elliott Wave Technical Analysis
FUNCTION: Counter Trend
MODE: Corrective
STRUCTURE: Flat
POSITION: Wave (c) of {iv}
DIRECTION: Bottom in (c)
DETAILS: Looking for an ending diagonal in wave (c) of {iv} to be in place, otherwise we could have topped in wave {v} where current wave (b) is and we could be headed lower.
MSTR Elliott Wave Technical Analysis – 4Hr Chart
On the 4-hour chart, MSTR follows a counter-trend corrective mode within a flat structure, specifically in wave (c) of {iv}. The analysis suggests that we may be forming an ending diagonal in wave (c) of {iv}, which often signals the conclusion of the corrective phase. Alternatively, if the market has already topped in wave {v} at the current wave (b) position, MSTR might head lower. Traders should be vigilant for signs of the ending diagonal being completed in wave (c) of {iv} and watch for potential downside movements if the wave {v} top scenario plays out.
Technical Analyst: Alessio Barretta
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