MicroStrategy stock has held its ground despite the recent exclusion from the S&P 500. Technical indicators show buyer confidence, creating the basis for potential growth.
Support from Buyers Amid Exclusion
Typically, missing out on the S&P 500 negatively impacts stocks, as index-tracking funds do not buy them. However, MicroStrategy stock has not experienced significant sell pressure. After dipping to $317, it quickly rebounded to $335, indicating that buyers are defending the stock, as highlighted by the Money Flow Index (MFI), which shows increased inflows.
Technical Indicators Point to Possible Breakout
Among the signal indicators, the Bull-Bear Power indicator shows a weakening of sell pressure compared to late August, suggesting that bulls are regaining control. Resistance levels are around $415, marking the breakout target, while support can be expected at $317 and $300.
Long-Term Models Indicate Higher Targets
Some analytical models suggest that MicroStrategy stock could reach significant price levels, up to $1,600 or $2,500, highlighting the long-term impact of the company's large Bitcoin holdings. Despite recent fluctuations, the long-term outlook for MicroStrategy stock remains tied to the Bitcoin cycle.
Despite being snubbed by the S&P 500, MicroStrategy stock displays bullish signals, reinforced by rising profit indicators. Support at $317 and $300 suggests that the company may achieve growth in the future.
