Kevin wrote the following about MSTR:
I have been considering a long side trade in MSTR based on the chart. I see 2 hammers in the last two days and it looks oversold based on the STO. What do you think about this trade?
I agree except for calling those two candles hammers. The wicks/tails need to be much longer in relation to the size of the real bodies to be hammers. According to Steve Nison the lower wick of a hammer is “usually three times or more the length of the real body.”
The stock is gapping up this morning due to an upgrade and $81 price target by Jefferies.
