The US-Iran agreement to end hostilities has sent shockwaves through global markets, and Strategy Inc. (NASDAQ:MSTR) is among the top performers on Monday.
MSTR stock surged after a deal was reached between the two nations, which will reopen the Strait of Hormuz and boost vessel flows immediately, with a full reopening to take longer as mines are cleared.
Crypto-linked stocks rallied alongside Bitcoin's surge in price following the agreement. Capital.com's Daniela Hathorn said that a durable agreement would lift a major macro overhang and may bolster risk appetite, especially if it helps drive oil lower and cool inflation worries.
The stock still trades below its 20- and 50-day simple moving averages, keeping the intermediate trend pointed lower. Momentum remains soft, with MACD sitting below its signal line and the histogram negative.