Daily Brief Technical Analysis: MicroStrategy Inc (MSTR US): 12.4% Profit Target Achieved in 5 Days and more

In today’s briefing:

MicroStrategy Inc (MSTR US): 12.4% Profit Target Achieved in 5 Days
Rio Tinto PLC (RIO LN) – 8.2% Profit Target at 5415/5650 Achieved in 3 Weeks
Hang Seng CEI (HSCEI) – Is Q1 2023 a Correction that Mirrors the Correction of Q1 2009?

MicroStrategy Inc (MSTR US): 12.4% Profit Target Achieved in 5 Days

TSS or “Trend Sustainability Score” is our proprietary momentum based tactical methodology. TSS has a proven record of identifying the exhaustion points in interim trends.
On 17 February 2023 TSS identified exhaustion in the MSTR US uptrend and targeted a minimum 10% reversal in 1-2 weeks.
On 24 February 2023 MSTR US completed a 12.4% reversal from 284.03 to 248.87.

At TMA we deliver high probability outcomes by focusing on our 3 pillars of technical analysis. •1) Response to key levels. •2) Price action. •3) Momentum confirmation.
On 3 February 2023 we identified a material topside failure in RIO LN and pending high probability multi-week to multi-month decline into the 5415/5650 range.
RIO LN declined from 6064 on 3 February to a low of 5568 on 27 February, a decline of 8.2%. Target achieved.

At TMA we deliver high probability outcomes by focusing on our 3 pillars of technical analysis. •1) Response to key levels. •2) Price action. •3) Momentum confirmation.
The HSCEI has produced 2 material failures below 5000 in the last 17 years, in October 2008 and October 2022. Aggressive bullish multi-month reversals followed in both cases.
The 2008 upswing paused when a bearish monthly reversal pattern was delivered in January 2009, but only for 2 months. The bearish monthly reversal pattern in February 2023 appears similar.

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