Falling Channel on ChannelNASDAQ:MDB is an Excellent example of falling channel, or bear channel
A channel on a channel.
Cool chart formation/
It is trending lower but when the downtrend resistance line breaks, that is a friendly or bullish sign.
MDB trade ideas
MDB - 3rd wave WIPMDB is strong today despite the spy pullback.
Once 450 breaks, this can see 500 quick and test all time highs later on .
Target #1 450
Target #2 500
Target #3 550, after a pullback
MDB: on the way to next resistance zone at: 550-640MDB price follows an impulsive structure from its Nov22 lows nicely.
Until price holds its Oct's lows, my main interpretation of the price structure suggests move to next macro-resistance zone: 550-640 in 2024.
Suggested price structure needs to be revised if price breaks down bellow 288 and above 640.
MDB Bullish SetupFar and away my favorite bullish setup for tomorrow. We have a really strong recovery from the selloff followed by an extremely high and tight consolidation at overhead supply, above which there is gap fill potential. On the break of 380 I have targets of 382.5 (PT1), 387 (PT2), & 391(PT3 & reach target). Please see the chart for more details!
charting $MDB for a campaign option writingthis is for my personal use.
according to Tipranks,
"Based on 25 Wall Street analysts offering 12 month price targets for MongoDB in the last 3 months. The average price target is $462.81 with a high forecast of $500.00 and a low forecast of $400.00. The average price target represents a 26.62% change from the last price of $365.50."
Double Top with bearish engulfingThe price of MDB is formed a good pattern
of double top
confirmed by a nice divergence
also the second top is formed by a very strong bearish bar
so a sell order at the close of this bar
another sell will be opened at the the break of the nick line if happened .
MongoDB Has Pulled BackMongoDB almost tripled between November 2022 and November 2023. Now some trend followers may see opportunity in its latest pullback.
The first pattern on today’s chart is the falling trendline along the peaks of July and September. The software company broke it about a month ago and is now probing the line from above. Will old resistance become new support?
The trendline is near the mid-October peak and the 50-day simple moving average (SMA). That creates some potential confluence for MDB.
Stochastics have also dipped to an oversold condition.
Next, Friday’s hammer candlestick may reflect buyers are starting to appear.
Finally, MDB is bouncing today on news it will join the Nasdaq-100. That could suggest it’s in a longer-term uptrend -- especially with the 200-day SMA approaching from below.
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MDB Key levels for Swing tradeMDB key levels for weekly swing trade.
Little bit of negative reaction after earnings which gives an opportunity to go long on these dips
Targets: 439.26, 474.18, 516.85
Support: 397.26, 366.91, 325
MDB MongoDB Options Ahead of EarningsIf you haven`t bought the dip on MDB here:
or sold before the previous earnings release:
Then analyzing the options chain and the chart patterns of MDB MongoDB prior to the earnings report this week,
I would consider purchasing the 435usd strike price Puts with
an expiration date of 2023-12-15,
for a premium of approximately $23.50.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
MDB Short idea - Gap Fill and Volume Shelf BreakMDB is in downtrend, Below 50EMA, on the way to fill the gap below. A big Volume Shelf gap and no support upto 290.
Downside Target#1 - 290.
If that breaks, another Volume Shelf Gap and an Imbalance, further downside possible.
Downside Target#2 - 240.
MDB painting a Cup and Handle PatternI really like the look of this C&H on the weekly chart. If this breaks to the upside look for $480 price target.
MongoDB Turning Acount?CITI posted that some 20 growth stocks might be a good opportunity. I like the nice bounce today; pretty good volume. Possible 60 points to reach the first resistance.
MongoBD Bullish trendEntry Point:
A prudent entry strategy for MongoDB (MDB) involves waiting for the price to test the established trend line. By doing so, you aim to confirm the resilience of the bullish trend and enhance the likelihood of a profitable trade.
Stop Loss (SL):
To manage risk effectively, consider setting your Stop Loss order at the level of the last bearish candle. This approach safeguards your investment by limiting potential losses in case the market takes an unexpected downturn.
Take Profit Targets:
TP1 (Take Profit 1): 359
TP1 represents the first potential profit-taking level. When the price reaches this point, it might be a wise decision to secure some profits. This level aligns with a modest gain and helps lock in gains early, reducing exposure to market fluctuations.
TP2 (Take Profit 2): 380
TP2 signifies a more ambitious target for potential gains. If the price continues to rise after TP1 is reached, consider taking further profits or closely monitoring the situation to make informed decisions on whether to extend your position or secure additional gains.
MDB MongoDB Options Ahead of EarningsIf you haven`t bought MDB here:
Then analyzing the options chain and the chart patterns of MDB MongoDB prior to the earnings report this week,
I would consider purchasing the 400usd strike price in the money Puts with
an expiration date of 2023-9-1,
for a premium of approximately $35.55.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
Big Drop for Big DataInitial target is 300 by end of August
Goal Target 176 by end of September
AI is just a buzzword for statistics, don't get wrapped into the hype.
MDBMDB
4 hours chart
I see that the corrective wave has been completed. It is important not to break the red line
Short MDB for a target of 360?Broke the trendline but the price is still hanging in there... I think this is also a good time to short for a target of 360. Looking at the overall market condition/weakness... might be good risk reward to the downside
$MDB Failed Breakout Reset SetupNASDAQ:MDB looking like a failed breakout rest setup heading into early next week.
Volume pattern since earning powered gap up has been exceptional increasing the odds of the stock continuing its march into higher grounds.
MDB MONGODB INCAfter the report, there was a significant upward gap followed by a period of consolidation known as a classic sideways movement or a range-bound market. Typically, when a breakout occurs from such a consolidation phase, it often indicates the formation of a sustained trend in the direction of the breakout.
TP1 430 TP2 457
SL 363
Target for MDB: 450$Mongo DB (MDB) Seems to breakout out of the 400$ region. If this breakout stands, our next target will be 450$. When trading Stocks we always have the overall markets in mind (sp500, Nasdaq). For now both markets are bullish, so we can look at a nice rally for MDB
MDB Earning Play SetupNASDAQ:MDB Nice and Tight after its earning gap up on June 2nd. Its been consolidating gains very constructively increasing probability for momentum continuation to the upside.
Makes it to primary list for early next week.
MDB: You're better off investing in Mangos... MDB looks terrible longterm. Traders may be able to earn a nice return trading the B-Wave bounce, but longterm buy and holders should stay FAR away.
