RY 156.04 -0.032% TD 79.81 -0.4615% SHOP 99.81 0.9303% CNR 158.79 0.6401% ENB 53.84 0.4478% CP 111.87 0.8019% BMO 112.71 0.7419% TRI 225.62 0.396% CNQ 50.46 2.4777% BN 67.8 1.194% ATD 76.93 -1.0674% CSU 4321.5298 0.3257% BNS 67.27 1.3102% CM 78.76 1.5603% SU 54.66 -1.1037% TRP 62.42 1.2162% NGT 70.54 0.2558% WCN 251.32 0.3153% MFC 36.65 -0.0818% BCE 47.21 0.3187%
Company Overview: MicroStrategy Incorporated (NASDAQ: MSTR) is a bitcoin development company. It is engaged in the development of the bitcoin network through its activities in the financial markets, advocacy and technology. Magnite Inc. (NASDAQ: MGNI) is an independent sell-side advertising company. The Company provides technology solutions to automate the purchase and sale of digital advertising inventory. This Report covers the Price Action, Technical Indicators Analysis along with the Target Levels, Stop Loss, Support Levels, Resistance Levels, and Recommendations on these two stocks.
US Markets Round-Up
This week, the Russell 3000 index, an important benchmark of the US stock market across market capitalizations, started the week on a positive note and continued the momentum. The index made a high of 3044.03 during the week and settled at 3028.462 with a week-to-date (WTD) gain of ~1.414 percent on May 16, 2024. Other major indices, such as S&P 500 and NASDAQ Composite, witnessed positive movement for the week. On May 16, 2024, the S&P 500 index settled at ~5325.49 with a WTD gain of ~1.42 percent, while the NASDAQ Composite Index settled at 16698.32 with a WTD gain of ~2.18 percent.
Having understood the US market performance over the week, taking cues from major global news, and based on technical analysis of the Russell 3000 index for the upcoming week, now let’s have a look at the two NASDAQ-listed stocks to pick from the technical standpoint. Noted below recommendations are based on the entry price, target prices, and stop-loss for MicroStrategy Incorporated (NASDAQ: MSTR) and Magnite Inc. (NASDAQ: MGNI) for the next 2-4 weeks duration:
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