Microstrategy gives in to negative pressure - Analysis - 06-06-2023

Microstrategy Incorporated's stock (MSTR) fell in the intraday levels, after touching the resistance of the 50-day SMA, with negative signals from the RSI after reaching overbought levels compared to the stock's movements, with the stock forming a negative divergence in the RSI, doubling pressures on the stock, which also pierced the upside short-term trend line, marking a heavy loss of 8.53% in the last session, or 25.77 points, and settling at 276.36. 

Therefore we expect more losses for the stock, targeting the support of 230.70, provided the resistance of 306.00 holds on.

Expected trend for today: Bearish