MSTR - MicroStrategy : Long Strategy

Mar 16

This stock Microstrategy Inc is showing some good recovery price action here on the 1Hr chart. It is a triple bottom and this is strong market structure, typical of a reversal sequence

The neckline is about 314 which will soon be taken. The chart has a very popular indicator FBB, Fibonacci Bollinger Bands. The middle line is derived from volume moving averages.

It is also bullish on the daily and weekly.

Fundamentals are good, I did hear they burnt through stacks of cash but this was for inventories. Future is bright for this techy and its these companies, Nvidia, Apple, Google etc that lead the markets bullish out of corrections.

Mar 16

Trade active

Buy on first candle close above 315, but often there's a buy the dip opportunity. SL is a matter for you , TP1 397.