Microstrategy’s stock price (MSTR) skidded in the intraday levels, piercing the important support of $1230.00, amid the dominance of the downward correctional trend in the short term, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI, after the stock managed to vent off oversold saturation there.

Therefore we expect more losses for the stock, targeting the support of $806.80, provided it settles below $1230.00.

Trend Forecast: Bearish