💾 MicroStrategy Set To Grow Like There's No Tomorrow

I love the "Community trends" on the front page... TradingView is great.

With this new feature I can see stocks/assets that I would never think of looking at otherwise.

Here we have MicroStrategy, MSTR.
I know about Mr. Michael Saylor as he is a huge Bitcoin fan like most of us.

He also wrote the foreword for the best selling Bitcoin book ever and it was nice to see his opinion about this game we now have been playing for so long.

MicroStrategy is set to grow like there is no tomorrow...
At least that's the message that I am getting from this chart.

I am using the weekly timeframe because long-term gives you a better perspective, short-term there is always too much "noise".

The first thing to look at is the broader cycle and that's the All-Time High, February 2021, almost two years have gone by since this level was hit.

The first thing that caught my attention is the current consolidation pattern and how the bulls are already showing up and strong.

This weekly candle is already trading above EMA21 and EMA10... There is a strong bullish divergence on the RSI since May 2022.

Also, the low in December 2022 came in higher than May, a higher low...

These signals put together make a strong case for bullish growth.

I write these signals for you... But what catches my attention from the go is this sort of "M" pattern, bullish bat, gartley, etc. too many names it has...

This pattern is like a falling wedge in the sense that it has a very high level of accuracy.

It is a bullish pattern of course and once it shows up... The chart tends to shoot up.

You can find the resistance levels marked on the chart (light green) and blue for support.

Namaste.


Comment:

It is still early for MicroStrategy (MSTR).
The first target is still far away at 373 and the second one at 535.

There is more marked on the chart.
I will update when they hit.

Trade closed: target reached:

246% Total growth.

This one had better entry so higher profits.

See you on the next one.