$MSTR Part 2 - technical analysis: The stock traded in a converging triangle since April this year and on 2/11 broke the triangle's resistance line with trading volume more than double the daily average!
The stock dropped and tested the resistance line it broke, and after finding support on it, continued upwards and closed the trading day up 8% after reaching the 795-820 resistance area.
In the following days, the stock appears to be gaining strength ahead of breaking the resistance area - if it breaks the resistance, the stock is expected to continue to the next resistance at the $880 price area.
It is possible that after reaching resistance, the stock will return to the support line in the 795-820 area for a test - before attempting to break the next resistance line.
Note - a break of the $880 resistance line allows for a free run up to the all-time high - $1,315 (approx. 50%).
Please note - the $1,000 price usually constitutes psychological resistance where traders choose to take profits.
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