"Evening stars" are not as reliable as they used to be. They occur after heavy speculation and a steep angle of ascent. A few days ahead of earnings,
MSTR
could not break through the resistance above.
The Gap up was HFT driven. This stock has a lot of retail interest at the moment, with every eye on AI. But the selloff from last quarter's reporting season is creating resistance on the daily scales. It is a very pricey stock for this market condition and the emotional state of most investors.
MSTR is likely to gap on earnings news as there are leaks out that it is going to be a blockbuster earnings report.
MSTR
could not break through the resistance above. The Gap up was HFT driven. This stock has a lot of retail interest at the moment, with every eye on AI. But the selloff from last quarter's reporting season is creating resistance on the daily scales. It is a very pricey stock for this market condition and the emotional state of most investors.
MSTR is likely to gap on earnings news as there are leaks out that it is going to be a blockbuster earnings report.
Martha Stokes, CMT
www.TechniTrader.Courses
Learn how to use the technical patterns of each market participant for better trade planning.
www.TechniTrader.Courses
Learn how to use the technical patterns of each market participant for better trade planning.
