MSTR, HOOD and COIN Price Forecast – Major Stocks Mixed

MSTR Technical Analysis

MicroStrategy Incorporated looks like a market that’s going to drop in the early hours of Friday, as pre-market trading certainly doesn’t look good. That being said, I think you’ve got a situation where sooner or later, we are going to see some type of support. It is worth noting that MicroStrategy is below the 200-day EMA now and very well could be heading to $200.

This doesn’t surprise me. The only reason for MicroStrategy is to try to find a place to hold Bitcoin at this point. And as a result, it moves up and down with Bitcoin. So, with that being said, we’ll have to see if it can bounce. But right now, this stock looks pretty toxic, as you can see. We have had an earnings call, sent the market higher, and then an earnings call sent the market lower. I think given enough time, MicroStrategy will find its base, but Bitcoin absolutely has to first.

HOOD Technical Analysis

Robinhood markets look like they’re going to drop a little bit in the early hours, but unlike MicroStrategy, Robinhood actually has a business. So, with that being said, I would watch this area right around the 50-day EMA, but I would also watch the area right around $43, as it has been important in the past as resistance and later support, so I do think there would be some interest there.

Most of what I think we’re seeing here have nothing to do with the company itself. You can see the earnings and revenue were good at the last earnings call. I think this is just going along with the general malaise of the market lower and is treading right around the $201 level in pre-market trading.

COIN Technical Analysis

Coinbase also looks as if it is going to open up lower and is trading right around the $201 in pre-market trading, but Coinbase has a significant amount of support in this general vicinity of $180 to the $200 level. So, I do think we’re getting closer to the end when it comes to selling in Coinbase.

Volume has picked up a little bit, but nothing drastically. And at this point, I think this is a market that I might be interested in, but I would want to see the bounce so that I could get on the other side of a V shape, if you will, before I started putting money to work.