Here’s your trade on MicroStrategy ($MSTR)…and Bitcoin! – January 15, 2025
Dan Fitzpatrick here at StockMarketMentor.com. I want to look at MicroStrategy ( NASDAQ: MSTR ) today.
This has been all over the place, you know what the drill is. It’s no longer an enterprise software company, though that is their front, it’s a Bitcoin bank. It’s been trending sideways and slapping all around here until this peaked here.
So what are we doing with this right now? I don’t really think, frankly, there’s anything to be done today, tomorrow, or yesterday. It’s just really one that you want to watch, but I think if you’re holding this, even perhaps at a loss. I certainly hope you bought down here, way back down here.
I think you’ve got to be looking at this area here as a consolidation. You’ve got to look at this area, right here, as some consolidation for the stock. But what really interests me isn’t this chart here because it’s just chopping all around, who knows what it’s going to do? When I see this type of thing, now I get more excited.
This is really a flag pattern, I’m not thinking about this one peak here. This is really a flag pattern here, and what I want to see is, maybe we’ll get another move lower. I’m looking at seeing the stock move above this downtrending resistance line.
This is what works for me, I want to be looking at this, not for today or tomorrow, but looking at this in a weekly time frame. I’m just looking for the next move up. I can virtually guarantee you that you’re going to have a move up just because of the company’s exposure to Bitcoin.
That’s really where I think this move is coming if you just look at the way this has been trading here. If you look at the way this thing has been trading here, it peaked a little above 100 today. This is a stock that’s working really, really well. And so you have to expect that MicroStrategy ( NASDAQ: MSTR ) is going to be doing the same thing.
I like MicroStrategy ( NASDAQ: MSTR ) here. I wouldn’t be buying it tomorrow reflexively, don’t do that at all. This is a stock that is ultimately going to go higher, and I can put another box here and say this is really the current congestion right here.
What I think you want to do is, make this visible here so you can see where this chart is and watch and see the stock continue to grind around here, ultimately narrow a little bit, the range will narrow right around the 50, perhaps the 100-day moving average. And then when it starts moving higher, that’s when you pounce on this thing.
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