{"id":127654,"date":"2024-11-19T13:34:52","date_gmt":"2024-11-19T06:34:52","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=127654"},"modified":"2024-11-19T13:34:52","modified_gmt":"2024-11-19T06:34:52","slug":"watch-these-microstrategy-levels-as-stock-soars-to-record-high-after-bitcoin-purchase","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=127654","title":{"rendered":"Watch These MicroStrategy Levels as Stock Soars to Record High After Bitcoin Purchase"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div id=\"mntl-sc-page_1-0\" data-sc-sticky-offset=\"80\" data-sc-ad-label-height=\"0\" data-sc-ad-track-spacing=\"90\" data-sc-min-track-height=\"250\" data-sc-max-track-height=\"600\" data-sc-breakpoint=\"50em\" data-sc-load-immediate=\"1\" data-sc-content-positions=\"[300, 1, 1, 1250, 1, 1, 1, 1]\" data-bind-scroll-on-start=\"true\">\n<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-callout mntl-block\">\n<div id=\"mntl-sc-block_2-0\" class=\"comp mntl-sc-block mntl-sc-block-callout mntl-block theme-whatyouneedtoknow\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<h3 id=\"mntl-sc-block-callout-heading_1-0\" class=\"comp mntl-sc-block-callout-heading mntl-text-block\">Key Takeaways<\/h3>\n<div id=\"mntl-sc-block-callout-body_1-0\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<ul>\n<li>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 bitcoin. <\/li>\n<li>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.<\/li>\n<li>A bars pattern, which takes the stock\u2019s trend higher from October 2023 to March this year and repositions it from the rectangle formation&#8217;s lower trendline, projects an upside bullish target of around $525.<\/li>\n<li>Investors should watch important support levels on MicroStrategy&#8217;s chart near $180 and $115.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p id=\"mntl-sc-block_3-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> MicroStrategy (<a href=\"https:\/\/www.investopedia.com\/markets\/quote?tvwidgetsymbol=mstr\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">MSTR<\/a>) shares could remain in focus on Tuesday after soaring to a new <a href=\"https:\/\/www.investopedia.com\/terms\/r\/record_high.asp#:~:text=Key%20Takeaways-,A%20record%20high%20is%20the%20highest%20historical%20price%20level%20reached,will%20continue%20to%20perform%20well.\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">record high<\/a> following news the software analytics company had purchased an additional $4.6 billion of <a href=\"https:\/\/www.investopedia.com\/terms\/b\/bitcoin.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"3\">Bitcoin (BTC)<\/a>.\n<\/p>\n<p id=\"mntl-sc-block_5-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> 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. <a href=\"https:\/\/www.investopedia.com\/terms\/s\/sec.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">Securities and Exchange Commission (SEC)<\/a> filing.<span class=\"ql-inline-citation\" data-cite=\"1\"\/>\n<\/p>\n<p id=\"mntl-sc-block_7-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> MicroStrategy, whose BTC holdings tally roughly $30 billion at current prices, started acquiring Bitcoin in August 2020 to hedge against <a href=\"https:\/\/www.investopedia.com\/terms\/i\/inflation.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">inflation<\/a> and diversify its corporate treasury. MicroStrategy shares have surged nearly sixfold since the start of the year through Monday\u2019s close, significantly outpacing Bitcoin\u2019s <a href=\"https:\/\/www.investopedia.com\/terms\/y\/ytd.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">year to date (YTD)<\/a> return of around 115%.\n<\/p>\n<p id=\"mntl-sc-block_9-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> The company&#8217;s stock gained 13% Monday, closing at $384.79.\n<\/p>\n<p id=\"mntl-sc-block_11-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> Below, we break down the <a href=\"https:\/\/www.investopedia.com\/technical-analysis-4689657\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">technicals<\/a> on MicroStrategy\u2019s <a href=\"https:\/\/www.investopedia.com\/terms\/w\/weeklychart.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">weekly chart<\/a> and point out key price levels to watch out for.\n<\/p>\n<p><span class=\"heading-toc\" id=\"toc-volume-backs-strong-price-momentum\"\/><\/p>\n<h2 id=\"mntl-sc-block_13-0\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\"> <span class=\"mntl-sc-block-heading__text\"> Volume Backs Strong Price Momentum <\/span> <\/h2>\n<p id=\"mntl-sc-block_14-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> MicroStrategy shares have remained in a steady <a href=\"https:\/\/www.investopedia.com\/terms\/u\/uptrend.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">uptrend<\/a> since the 50-week moving average (MA) crossed above the 200-week MA in late January to form a bullish <a href=\"https:\/\/www.investopedia.com\/terms\/g\/goldencross.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">golden cross<\/a> signal.\n<\/p>\n<p id=\"mntl-sc-block_16-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> More recently, gains have accelerated after the stock broke out above a <a href=\"https:\/\/www.investopedia.com\/articles\/trading\/08\/rectangle-formation.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">rectangle formation<\/a> last month. Importantly, robust <a href=\"https:\/\/www.investopedia.com\/ask\/answers\/041015\/why-trading-volume-important-investors.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">trading volumes<\/a> have backed the move higher, with the shares last week registering their highest turnover since MicroStrategy went <a href=\"https:\/\/www.investopedia.com\/ask\/answers\/what-does-going-public-mean\/\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"3\">public<\/a> in 1998.\n<\/p>\n<p id=\"mntl-sc-block_18-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> The <a href=\"https:\/\/www.investopedia.com\/terms\/r\/rsi.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">relative strength index (RSI)<\/a> confirms bullish price momentum with a reading above the 80 threshold, but also flags <a href=\"https:\/\/www.investopedia.com\/terms\/o\/overbought.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">overbought<\/a> conditions that could trigger near-term retracements.\n<\/p>\n<p id=\"mntl-sc-block_20-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> Let\u2019s apply technical analysis to MicroStrategy\u2019s chart to project an upside <a href=\"https:\/\/www.investopedia.com\/terms\/p\/pricetarget.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">price target<\/a> and identify important <a href=\"https:\/\/www.investopedia.com\/terms\/s\/support.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">support levels<\/a>.\n<\/p>\n<p><span class=\"heading-toc\" id=\"toc-bars-pattern-price-target\"\/><\/p>\n<h2 id=\"mntl-sc-block_22-0\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\"> <span class=\"mntl-sc-block-heading__text\"> Bars Pattern Price Target <\/span> <\/h2>\n<p id=\"mntl-sc-block_23-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> Investors can project an upside price target using a bars pattern, a chart technique that analyzes prior <a href=\"https:\/\/www.investopedia.com\/articles\/technical\/03\/060303.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">trends<\/a> to predict potential future moves.\n<\/p>\n<p id=\"mntl-sc-block_25-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> When applying this tool to MicroStrategy\u2019s chart, we take the stock\u2019s trend higher from October 2023 to March this year and reposition it from the rectangle formation&#8217;s lower trendline. This forecasts a price target in the neighborhood of $525, about 36% above Monday\u2019s close.\n<\/p>\n<p id=\"mntl-sc-block_27-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> We selected this prior trend as it captures the broad move higher that preceded the rectangle formation and assumes a <a href=\"https:\/\/www.investopedia.com\/terms\/c\/continuationpattern.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">continuation<\/a> of the stock\u2019s longer-term uptrend.\n<\/p>\n<p><span class=\"heading-toc\" id=\"toc-important-support-levels-to-watch\"\/><\/p>\n<h2 id=\"mntl-sc-block_29-0\" class=\"comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading\"> <span class=\"mntl-sc-block-heading__text\"> Important Support Levels to Watch <\/span> <\/h2>\n<p id=\"mntl-sc-block_30-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> 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&#8217;s top trendline.\n<\/p>\n<p id=\"mntl-sc-block_32-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> Selling below this key level may act as a catalyst for a steeper <a href=\"https:\/\/www.investopedia.com\/terms\/s\/sell-off.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">sell-off<\/a> to around $115. This region on the chart would likely encounter support near the prominent February 2021 peak and rectangle pattern\u2019s lower trendline.\n<\/p>\n<p id=\"mntl-sc-block_34-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> <em>The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our\u00a0<a href=\"https:\/\/www.investopedia.com\/legal-4768893#toc-warranty-and-liability-disclaimer\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">warranty and liability disclaimer<\/a>\u00a0for more info.<\/em>\n<\/p>\n<p id=\"mntl-sc-block_36-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\"> <em>As of the date this article was written, the author does not own any of the above securities.<\/em><\/p>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.investopedia.com\/watch-these-microstrategy-levels-as-stock-soars-to-record-high-after-bitcoin-purchase-8747705\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=127654\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-127654","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/127654","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=127654"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/127654\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=127654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=127654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=127654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}