MicroStrategy Stock Eyes $629 as Fibonacci Targets Mark Next Levels
- MicroStrategy stock closed at $331 while holding above the 0.618 Fibonacci retracement near the $316 level.
- Fibonacci extensions mark upside targets at $495, $565, $629 and $682 as traders monitor the next breakout.
- The technical chart shows a possible pullback to $231 or an advance toward $629 depending on momentum at $316.
MicroStrategy stock is trading near $331.44 after touching $340.01 during the session, while Fibonacci levels map potential price targets. The weekly chart reveals a completed five-wave cycle followed by a retracement to the 0.618 level near $316.98. Traders are now assessing whether the setup signals renewed upward momentum toward $629 or a retest of lower supports.
Five-Wave Structure and Current Retracement
The weekly chart of MicroStrategy (MSTR) shows a clear Elliott Wave pattern, marked as (1) through (5). The fifth wave peaked at approximately $455, followed by a corrective retracement. Current price action aligns closely with the 0.618 Fibonacci retracement level around $316.98.
This retracement level is often watched for possible reversals, as buyers tend to re-enter at such points. The chart also shows long-term price support near $231.29, identified as the 1.0 Fibonacci extension. If the correction deepens, this level may serve as the next critical floor.
The price has held above the 200-week moving average, supporting the notion of ongoing structural strength. Consolidation near this moving average suggests the broader trend remains intact. Investors view this area as a battleground for potential direction in coming months.
Fibonacci Extensions Signal Potential Upside
Above the current zone, Fibonacci extensions outline projected targets. The 0.786 retracement level aligns with $495, while the 1.1 extension points to $565.88. More aggressive targets are identified at 1.38 and 1.618 extensions, corresponding to $629.04 and $682.73.
The chart includes a bold arrow pointing toward the $629 region, suggesting a mapped pathway to higher levels. Achieving this target would require sustained momentum, pushing MicroStrategy above recent highs. Market participants will be watching how price reacts as it approaches resistance levels.
Such Fibonacci extensions are often used to anticipate zones where momentum-driven rallies could exhaust. They provide traders with predefined checkpoints for measuring risk and reward. For MicroStrategy, these extensions highlight both near-term and long-term possibilities.
The challenge remains whether the stock can clear $455, the previous cycle peak. Doing so would confirm breakout strength and open the path toward $629.
Market Setup and Investor Focus
The technical framework indicates two clear scenarios. The first is an upward continuation to $629, fueled by renewed buying momentum. The second is a deeper retracement toward $231.29, should selling pressure return to dominate.
The chart illustrates these possibilities with directional arrows. One arrow tracks the bullish pathway toward $629, while another reflects the potential slide to $231. Both pathways hinge on how price behaves around the $316.98 retracement level.
Traders monitoring MicroStrategy are aware that price decisions at retracement zones often define the next sustained trend. If buyers hold the current level, momentum could shift in their favor. If not, the lower support band could attract further tests.
With the stock trading at $331.44 and closing slightly lower by 1.32% in the latest session, attention turns to these technical markers. The pivotal question remains: will MicroStrategy confirm a breakout toward $629 or revisit the $231 zone?
