MicroStrategy Incorporated (MSTR) stock price impressed the market in last week’s trading sessions. However, in the past week, the MSTR stock price reflected an unusual upwards movement. MSTR share has entered a bullish phase after a long down phase. A bullish crossover on the chart confirms the positive sentiment in the share.
When we take a close look at the financials for the fiscal year ending December 31, 2021, the MSTR reported a 3.9% year-over-year increase in revenues to $499.3 Million. However, the company also reported a 174.6% year-over-year decrease in net loss to $1.47 Billion.
Moreover, the company had a negative net profit margin of -294.4%, negative diluted earnings per share of -$129.83, and a positive EBITDA of $21.4 Million for the same period. The company’s current market cap is $3.13 Billion, and its P/E ratio is -3.13, indicating a low valuation and poor profitability.
From its 52-week bottom price of $132.56, it increased to a $408.01 peak price. Moreover, the average 3 months volume in MSTR is 914.67K. MSTR stock gave excellent returns to investors in the span of a year. However, the current market sentiments are bullish about the stock.
MSTR Price Technical Analysis
The price of MicroStrategy Incorporated has jumped above the 200-day and 50-day moving averages showing the influence of buyers in the market. However, if buyers continue to push the market higher, MSTR stock prices can grow more and go into an uptrend. Moreover, the bullish cross confirms the bullish trend.
The RSI line has been trading around the oversold area. The RSI line is around 76.31. The 14 SMA has a value of 64.45 points, indicating that MicroStrategy Incorporated. the market is in the positive zone.
Right now, MACD is giving bullish signals. The MACD line at 24.44 and the signal line at 16.05 is above the zero line, suggesting that the MACD is in positive territory and is giving positive signals as of now.
Conclusion
MicroStrategy Incorporated’s share price has been rising from its lows and forming new highs. It may bounce back and make a new high soon if the bulls take over. MSTR’s stock price shows a potential reversal right now. Key reliable indicators such as EMA, RSI, and MACD hint at an uptrend for the MicroStrategy Incorporated stock. The current situation calls for traders and investors to be optimistic about catching the momentum wave to increase profits.
Technical Levels:
- Support – The current support level is $350.00.
- Resistance –The current resistance level is $461.53.
Disclaimer
The analysis given in this article is for informational and educational use only. Do not use this information as financial, investment, or as trading advice. Investing and trading in stock is a risky task. Please consider your circumstances and risk profile before making any investment decisions.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/07/11/is-microstrategy-inc-mstr-stock-turning-to-bullish-trend/