MSTR looks pretty bearish here. We're trading under a key support and it looks like it wants lower. I think if the next candle turns red, then we're likely to see a large selloff all the way down to the lower supports.
If we can make it back up above this support level at $363, and close above it, it would be a trigger long. Then I think we're likely to see a large run all the way up to the upper resistances to 1000+.
Let's see how the price action unfolds here.
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Red candle...
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Still not bullish. We're now at resistance again $395. Unless price can flip this level, I wouldn't chase here. Still think the same scenario will play out, lower before higher.
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Welp ended up closing above it... so likely more upside now. Will monitor next week.
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Leaning towards the pivot on Feb 7th as the trigger to take the put position.
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Let's see if we turn down today and continue towards the lower resistances