Microstrategy Incorporated's stock (MSTR) rose in the last session after a 11.7% spike in Friday, with the business AI company controlling large Bitcoin holdings, with its value rising alongside cryptocurrencies, with the group also saying it might sell nearly $500 million in normal shares to buy even more bitcoin, with the stock adding 0.39%, or 1.01 points, settling at 262.98, with trading volumes approaching 900 thousand shares, above 10-day averages of 662 thousand shares.
Technically, the stock is trading alongside the upward correctional short-term trend line, with positive signals from the RSI, approaching the resistance of the 50-day SMA in an attempt to shake off its pressure.
Therefore we expect more gains for the stock, targeting the pivotal resistance of 361.97, provided the support of 202.90 holds on.
Expected trend for today: Bullish