MSTR support zone 160 hit

Support zone: close above is a hit. Close on the level is a push. Graded on the regular-session close.

A support zone is a price below the market where a large amount of options positioning sits. The idea is that this positioning can slow a move down there, so the test is simple: does the stock close above it? When it was posted at 08:43 ET, MSTR traded at 166.89, 4.3% above the support zone. On the same map, the next level above was 170 and the next level below was 150. See the original post.

Price traded through the support zone during the session (first 5-minute close on the wrong side at 11:35 AM ET), with a low of 154.34 and a high of 169.34. In the last hour price moved down 2.64, from 156.98 to 154.34.

The regular-session close was 160.03, 0.03 (0.02%) above the support zone at 160. Under the rule (support zone: close above is a hit), that is a hit.

MSTR finished the day down 0.3%, while SPY was up 0.7%. We found no single clear company-specific catalyst for the day in our notes.