Microstrategy Stock [MSTR] Defies Jim Cramer’s advice, Surpasses $1500

  • Exciting News: MSTR Joins the MSCI Index! Potential Boost in Visibility and Investment
  • MSTR Makes a Comeback, Crossing $1500 Mark on Price Charts

Hey there, investors! Today, we’re talking about a recent buzz in the market. Jim Cramer, the well-known host of CNBC’s Mad Money show, shared his thoughts on MicroStrategy shares and Bitcoin. He suggested that rather than investing in MicroStrategy for Bitcoin exposure, it might be more direct to dive into BTC itself. Bold move, Jim!

Despite Cramer’s advice to steer clear of MicroStrategy, the stock saw a remarkable recovery on Wednesday, surpassing a 15% gain on the charts. Quite impressive, especially when compared to Bitcoin’s growth during the same period.

MicroStrategy Makes Waves After MSCI Inclusion

It seems like MicroStrategy had a double dose of good news recently. First off, it got added to the MSCI index, as highlighted by Bloomberg’s ETF analyst Eric Balchunas. This move is seen as a game-changer for MicroStrategy, opening up more investment opportunities and boosting its visibility among investors.

Furthermore, Wednesday’s spike in Bitcoin prices, combined with positive technical indicators, contributed to MSTR’s recovery.

MicroStrategy stock

Source: MSTR stock, TradingView

From a dip to a rise, MSTR’s journey in May has been quite something. It conquered the 50% ($1219) and 38.6% ($1397) Fibonacci levels, breaking through the 20-day SMA (Simple Moving Average) as well. Bulls seemed to be taking the lead on Tuesday, pushing the market above $1500 on Wednesday and changing the market sentiment to bullish.

With a target set at $1631, MSTR is aiming for its all-time high of $1999. The RSI is also showing strong buying momentum, supporting the optimistic outlook.

However, it’s essential to note that the current ADX reading suggests a neutral momentum, indicating caution. Also, the substantial correlation between MSTR and BTC might mean further positive movements for MSTR if Bitcoin continues its upward trend.

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