Microstrategy buoyed by SMA support - Analysis - 04-11-2022

Microstrategy's stock (MSTR) rose in the intraday levels, buoyed by trading above the 50-day SMA, while still trading alongside the downward trend line in the short term, amid the dominance of the main downward trend, coupled with negative signals from the RSI.

Therefore we expect the stock to return lower, targeting the first support at 183.50, provided it settles below the resistance of 268.00.

Expected trend for today: Bearish