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Apr 17, 01:58 PM
MicroStrategy and GameStop Lead Swing Trades with Strong Monthly Low Amid Bitcoin Strength, VIX at 30
Stocks
Markets
Business
Crypto

MicroStrategy and GameStop Lead Swing Trades with Strong Monthly Low Amid Bitcoin Strength, VIX at 30

Authors
  • Ripster
  • Heisenberg
  • TheChartGuys
4

MicroStrategy Inc. (MSTR) has demonstrated its strongest relative performance against the Nasdaq-100 ETF (QQQ) in the past two and a half months, suggesting a potential monthly higher low formation. The company's stock strength is closely linked to Bitcoin's (BTC) continued relative strength, which has helped MSTR maintain levels near recent highs. Market analysts note that MSTR and GameStop Corp. (GME) have shown consistent relative strength compared to both Bitcoin and QQQ over the last week, making them candidates for bullish swing trades. Technical observations highlight a strong one-hour setup for MSTR, with key market indicators such as the VIX at 30 and a flagging QQQ pivot. While MSTR's performance remains highly dependent on Bitcoin's movements, its recent clean technical lines indicate positive momentum.

Written with ChatGPT (GPT-4).

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