Despite the fears in the immediate aftermath of the spot Bitcoin (BTC) exchange-traded fund (ETF) approvals, MicroStrategy (NASDAQ: MSTR) – rebranded as just Strategy – has been a major winner of 2024.
Despite rallying more than 420% from $63 on January 2 of the year to the price of $289 on its final day and at one point hitting the highs near $421, more recent MSTR stock performance has been less certain.
The long period of consolidation, per the technical analysis (TA) conducted by the on-chain expert Ali Martinez on X, is nearing its end, and Strategy shares could soon make a massive move.
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Here’s why MSTR stock might make a big move soon
Specifically, Martinez showcased that MSTR stock has been forming a symmetrical triangle chart pattern since mid-November and that the period of price consolidation is nearing its end. The on-chain analyst also revealed that Strategy shares are poised for a move potentially as large as 52%.
Still, the analysis left some things unclear. Though the existing chart pattern does, without a doubt, indicate that Strategy stock is headed for a major breakout, it remains largely unclear if it will be bullish or bearish.
Traditionally, as MSTR shares have become a Bitcoin proxy, one might examine the moves of the cryptocurrency market to gain some insight into where Michael Saylor’s company may be headed, but BTC has, itself, been trading with indecision.
Furthermore, Strategy stock hasn’t been tracking the coin’s fluctuations closely in recent months and has been experiencing greater volatility than the digital asset.
Wall Street predicts if a boom or a bust is next for MSTR shares
Wall Street analysts, however, appear to estimate that MSTR shares will continue rising in the coming 12 months, indicating that even a downward breakout would present more of a ‘buy the dip’ opportunity than constitute a calamity.
Indeed, the data Finbold retrieved from stock analysis platform TipRanks indicates that all 11 ratings assigned in the last three months position Strategy stock as a ‘strong buy’ with an average 52-week price target of $548.91 – 62.88% above the press time price.
Likewise, the most recent forecasts have been optimistic, though it is worth pointing out there have been only two ratings in 2025 – one assigned on January 27 by Mizuho and the other on February 7 by Keefe, Bruyette & Woods.
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