Here’s how to get into MicroStrategy $MSTR – May 20, 2024
Dan Fitzpatrick here at StockMarketMentor.com. I want to talk about MicroStrategy ( NASDAQ: MSTR ) today. This is a Bitcoin leverage thing, and you know that, we all know that you should by now. I put this on our Active Trade List a few days ago, I don’t think it’s too late to buy here, not at all.
One of the things that I’m looking at is this; when you see these Bollinger Bands, which are 2 standard deviations from the 20-day moving average, when you see these expanding like this, the only time you are going to see them expanding is if the stock is moving in a big directional way, one way or the other. They always are equidistant from the 20-day moving average.
When they are expanding like this, this is a very, very strong move and it tends to go for a while. So what my suggestion would be is, you look at this line here as at least an upside target. It’s only 15,16,17 percent away, but in my book, that’s a pretty good trade. But the way Bitcoin is starting to move you are going to see MicroStrategy ( NASDAQ: MSTR ) come back up too.
And there are some hedge funds, the real vocal ones typically aren’t very good, but hey, they’ve got a loud microphone. They talk about, oh, MicroStrategy ( NASDAQ: MSTR ) is way overvalued. So what I’m going to do is, I’m going to short MicroStrategy ( NASDAQ: MSTR ) but I’m going to go long Bitcoin. And then I’m going to pocket the difference on the arbitrage.
What the hell are you doing man? In my mind, why don’t you go long MicroStrategy ( NASDAQ: MSTR ) and go long Bitcoin, then you will be on the right side of the trade on both sides of the trade? That’s just me.
Anyway, we are long MicroStrategy ( NASDAQ: MSTR ) from lower, and we will continue to be. I think this stock, pretty easily, goes to 2,000.00. And by the way, once it clears that, it’s going to be a little bit like when NVIDIA ( NASDAQ: NVDA ) cleared $500.00.
This thing should continue to run as long as Bitcoin cooperates. And my sense is, it’s very likely to cooperate. You can see what the spot ETF is doing right now. I like the way this is trading, I think you want to go MicroStrategy ( NASDAQ: MSTR ) long.
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