Watch These MicroStrategy Levels as Stock Soars to Record High After Bitcoin Purchase

Investopedia11-19 11:07

Key Takeaways MicroStrategy shares could remain in focus on Tuesday after soaring 13% to a new record high following news the software analytics company had purchased an additional $4.6 billion of ...

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Gains in the stock have accelerated since breaking out above a rectangle formation, with share turnover registering its highest level last week since going public in 1998.A bars pattern, which takes the stock’s trend higher from October 2023 to March this year and repositions it from the rectangle formation's lower trendline, projects an upside bullish target of around $525.Investors should watch important support levels on MicroStrategy's chart near $180 and $115.MicroStrategy  shares could remain in focus on Tuesday after soaring to a new record high following news the software analytics company had purchased an additional $4.6 billion of Bitcoin .When applying this tool to MicroStrategy’s chart, we take the stock’s trend higher from October 2023 to March this year and reposition it from the rec","collect":0,"end_time":0,"defaultTopTitle":"investopedia.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"83042":"华夏比特币-R","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","BK4595":"比特币概念","LU2552382132.HKD":"WELLINGTON US BRAND POWER \"A\" (HKD) ACC","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","09439":"嘉实比特币-U","MSTR":"MicroStrategy Incorporated","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","BTC.AU":"Btc Health Ltd","LU0289941410.SGD":"AB FCP I Dynamic Diversified AX SGD","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","BK4559":"巴菲特持仓","LU1261432733.SGD":"Fidelity World A-ACC-SGD","SGXZ99366536.SGD":"United Global Innovation A Acc SGD-H","IE00BN29S564.USD":"JANUS HENDERSON BALANCED \"A3\" (USD) INC","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","09008":"博时比特币-U","LU1983260115.SGD":"Janus Henderson Horizon Global Sustainable Equity A2 SGD-H","LU1084165304.USD":"FIDELITY WORLD \"A\" (USD) ACC","LU1989764664.SGD":"CPR Invest - Global Disruptive Opportunities A2 Acc SGD-H","BTC":"Grayscale Bitcoin Mini Trust","03042":"华夏比特币","LU1670627923.USD":"M&G (LUX) NORTH AMERICAN DIVIDEND \"A\" (USD) ACC","IE00B775H168.HKD":"JANUS HENDERSON BALANCED \"A5M\" (HKD) INC","SEC.AU":"SPHERIA EMERGING CO LTD","MSTR.AU":"MORNINGSTAR INTL SHARES ACT","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","IE00B4JS1V06.HKD":"JANUS HENDERSON BALANCED \"A2\" (HKD) ACC","LU2108987350.USD":"UBS (LUX) EQUITY SICAV GLOBAL OPPORTUNITY SUSTAINABLE (USD) \"P\" (USD) ACC","LU2361044865.SGD":"WELLINGTON US QUALITY GROWTH \"A\" (SGDHDG) ACC","IE0004086264.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"A\" (USD) ACC","03439":"嘉实比特币","RSI":"Rush Street Interactive, Inc.","LU2063271972.USD":"富兰克林创新领域基金","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","09042":"华夏比特币-U","MA":"万事达","03008":"博时比特币","IE00BQXX3C00.GBP":"GUINNESS GLOBAL INNOVATORS \"C\" (GBP) ACC","LU2361045086.USD":"WELLINGTON US QUALITY GROWTH \"A\" (USD) ACC","LU0390134368.USD":"FRANKLIN GLOBAL GROWTH \"A\" (USD) ACC","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU0985320562.USD":"NORDEA 1 GLOBAL STARS EQUITY \"BP\" (USD) ACC","LU1814569148.SGD":"WELLINGTON GLOBAL QUALITY GROWTH \"D\" (SGDHDG) ACC","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","BK4227":"交易和支付处理服务"},"translate_title":"比特币收购后股价飙升至历史新高，请关注这些微观策略水平","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"83042":0.6,"03042":1,"MA":1,"MSTR":1,"BTC.AU":1,"BTC":1,"MSTR.AU":1,"RSI":1,"03008":1,"09439":1,"09042":1,"09008":1,"03439":1,"SEC.AU":1,"BTCmain":0.65,"XBTmain":0.65},"content_text":"Key Takeaways\nMicroStrategy shares could remain in focus on Tuesday after soaring 13% to a new record high following news the software analytics company had purchased an additional $4.6 billion of bitcoin. Gains in the stock have accelerated since breaking out above a rectangle formation, with share turnover registering its highest level last week since going public in 1998.A bars pattern, which takes the stock’s trend higher from October 2023 to March this year and repositions it from the rectangle formation's lower trendline, projects an upside bullish target of around $525.Investors should watch important support levels on MicroStrategy's chart near $180 and $115.\n MicroStrategy (MSTR) shares could remain in focus on Tuesday after soaring to a new record high following news the software analytics company had purchased an additional $4.6 billion of Bitcoin (BTC).\n\n\n The company bought 51,780 bitcoins for approximately $4.6 billion in cash, at an average price of approximately $88,627 per bitcoin, taking its total stash in the pioneer cryptocurrency to 331,200 BTC, according to a U.S. Securities and Exchange Commission (SEC) filing.\n\n\n MicroStrategy, whose BTC holdings tally roughly $30 billion at current prices, started acquiring Bitcoin in August 2020 to hedge against inflation and diversify its corporate treasury. MicroStrategy shares have surged nearly sixfold since the start of the year through Monday’s close, significantly outpacing Bitcoin’s year to date (YTD) return of around 115%.\n\n\n The company's stock gained 13% Monday, closing at $384.79.\n\n\n Below, we break down the technicals on MicroStrategy’s weekly chart and point out key price levels to watch out for.\n\n\n  Volume Backs Strong Price Momentum  \n MicroStrategy shares have remained in a steady uptrend since the 50-week moving average (MA) crossed above the 200-week MA in late January to form a bullish golden cross signal.\n\n\n More recently, gains have accelerated after the stock broke out above a rectangle formation last month. Importantly, robust trading volumes have backed the move higher, with the shares last week registering their highest turnover since MicroStrategy went public in 1998.\n\n\n The relative strength index (RSI) confirms bullish price momentum with a reading above the 80 threshold, but also flags overbought conditions that could trigger near-term retracements.\n\n\n Let’s apply technical analysis to MicroStrategy’s chart to project an upside price target and identify important support levels.\n\n\n  Bars Pattern Price Target  \n Investors can project an upside price target using a bars pattern, a chart technique that analyzes prior trends to predict potential future moves.\n\n\n When applying this tool to MicroStrategy’s chart, we take the stock’s trend higher from October 2023 to March this year and reposition it from the rectangle formation's lower trendline. This forecasts a price target in the neighborhood of $525, about 36% above Monday’s close.\n\n\n We selected this prior trend as it captures the broad move higher that preceded the rectangle formation and assumes a continuation of the stock’s longer-term uptrend.\n\n\n  Important Support Levels to Watch  \n If profit-taking ensues, shares could initially revisit the $180 level, an area on the chart where investors may look for buying opportunities near the rectangle formation's top trendline.\n\n\n Selling below this key level may act as a catalyst for a steeper sell-off to around $115. This region on the chart would likely encounter support near the prominent February 2021 peak and rectangle pattern’s lower trendline.\n\n\n The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our warranty and liability disclaimer for more info.\n\n\n As of the date this article was written, the author does not own any of the above securities.\n\nDo you have a news tip for Investopedia reporters? Please email us at\ntips@investopedia.com","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"2","news_tag":"Business Data","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2484678957"}