Analyst Predicts 35% Upside for MicroStrategy Stock Based on Fibonacci Analysis
MicroStrategy (Nasdaq: MSTR), led by Michael Saylor, recently purchased 950 Bitcoin units worth $75.7 million between September 14 and 20. The company now holds a total of approximately 846,000 BTC valued at around $63.8 billion. With Bitcoin trading above $86,000, MicroStrategy is sitting on an unrealized gain of about $9 billion compared to the earlier $13 billion loss in June when prices were below $60,000. Market analyst Donald Dean has predicted a 35% upside for MSTR stock if it breaks through resistance at the Fibonacci retracement level of $170.41. His target price is $225.22 per share, which would represent significant growth from its recent closing price of around $168.50 on September 21. While MSTR has gained over 40% in the past month, it remains down nearly 50% year-to-date as of the time of analysis.
Topics: Bitcoin Michael Saylor MicroStrategy (MSTR) stock price movement unrealized gains/losses