Strategy Stock's $334M Raise Not Enough to Shift Bearish Trend

Strategy Stock's recent $334 million capital raise has not been accompanied by any Bitcoin purchases, leaving its BTC holdings unchanged for the week. Despite this influx of fresh capital, the stock remains in a downtrend, with the daily chart still showing a bearish structure. The 20-day exponential moving average (EMA) at 96.94 is below the 50-day EMA at 105.96 and the 200-day EMA at 162.1.

The recent bounce has not changed the alignment of these EMAs, which remains unchanged. The Relative Strength Index (RSI14) sits at 49.18, a neutral reading, while the MACD histogram turned positive at 0.7 as the MACD line stayed negative at -1.76.

For the bullish case to gain traction, Strategy Stock would need to clear and hold above the daily R1 at 99.81. A move above the 1-hour 200-day EMA near 97.96 would help validate the shift, with the next technical magnet being the daily 50-EMA at 105.96.

However, the bearish path remains firmly on the table, with a rejection at the current pivot resistance cluster keeping the longer-term downtrend intact. The stock's fundamental backdrop adds uncertainty rather than clarity, with no Bitcoin purchases made despite fresh capital raised.